Oswego, N.Y. — Rittenhouse Realty Advisors has arranged the $23.5 million sale of Lakeside Commons, a 320-bed student housing community located near the State University of New York (SUNY) at Oswego.
The newly constructed community offers 84 units with bed-to-bath parity. Shared amenities include a state-of-the-art fitness center, clubhouse, game room, media lounge, study lounge and on-site parking.
“Today we are seeing a large buyer pool of active student housing investors looking to invest in the space, as student housing has shown its resiliency throughout COVID and has strong go-forward market fundamentals,” says Douglas Sitt, student housing specialist with Rittenhouse.
“In this particular deal, we were able to bring a family office ouf of New York City looking to expand their student housing portfolio,” he continues. “What makes Rittenhouse unique from the other student housing investment sales firms is our ability to bring a wide variety of New York City family offices in to compete on deals, rather than just the national student housing players.”