GMH Communities Trust announced that its student housing division, College Park Communities, has acquired Royal Riverwood Manor, an apartment community in Sacramento, Calif. The value of the transaction was approximately $20.1 million. The 250-unit apartment community is located adjacent to the main campus of the California State University - Sacramento. Built in 1979, Royal Riverwood Manor is a garden-style complex consisting of 25 two-story buildings, a clubhouse, swimming pool, fitness center and two lighted tennis courts. With this latest purchase, the total number of student housing assets owned by the company is 55 properties, which contain an aggregate of 10,478 units/34,208 beds. GMH Communities Trust is a publicly traded Maryland real estate investment trust. *** What's your opini...
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