Cal State University, Monterey Bay Acquires 579-Bed Student Housing Community for $68.5 Million

The Promontory is located adjacent to the California State University, Monterey Bay campus in Seaside, California. The Promontory is located adjacent to the California State University, Monterey Bay campus in Seaside, California.

Seaside, Calif. — The University Corporation at Monterey Bay — an auxiliary corporation of California State University, Monterey Bay — has acquired a 579-bed student housing community located adjacent to the university’s campus in Seaside for $68.5 million.

The project, called The Promontory, was acquired from AMCAL Equities LLC. The university had a 20-year master lease on the community with an option to purchase after the first 12 months, which it chose to exercise. Community amenities at the property include an internet café; a basketball half-court; a community clubroom; 24-hour study areas; bicycle storage; a fitness center; and outdoor grills and seating areas. 

More News