An affiliate of Chicago-based Heitman LLC has purchased a 321-unit student-housing property in San Diego’s College Area for $82.7 million, according to CoStar Group and public data.
The seller of the apartment community, known as Sterling Alvarado at 6625 Alvarado Road near San Diego State University, was The Dinerstein Cos. of Houston.
The five-story Sterling Alvarado opened in August 2012 and spans nearly 10 acres. The apartment community includes two swimming pools, a wrap-around park with exercise stations, a computer center, fitness center, game rooms and a tanning dome.
Serving primarily as student housing on the northeast side of the SDSU campus, the property has a total of 771 beds
