$12.7M sale of student housing redevelopment site near SDSU closes

CHICAGO, August 25, 2022 – JLL Capital Markets announced today that it has closed the $12.7 million sale of 5505 Lindo Paseo, the .35-acre student housing redevelopment site located on the south border of campus at San Diego State University, one of the fastest-growing universities on the West Coast with enrollment over 34,000 students.

JLL worked on behalf of the seller, Amplify Development Company and Blue Vista Capital Management. An affiliate of Champion Real Estate Company acquired the asset.

Currently serving as a fraternity house, the project is suitable for dense, vertical development.

Situated at 5505 Lindo Paseo, the site is within 100 feet of campus, an eight-minute walk from SDSU Transit Center Green Light and the retail corridor on College Avenue, a four-minute walk from Vejas Arena and one block from sorority and fraternity row. Residents of this area are within a ten-minute walk of a sizable percentage of the university’s academic facilities, including the School of Exercise and Nutritional Sciences, the SDSU Medical Center, School of Theatre, Television and Film, School of Music and Dance, School of Nursing and the Department of Psychology.

The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Directors Stewart Hayes, Scott Clifton and Teddy Leatherman, Associate Kevin Kazlow and Analyst Jack Goldberger. 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

Amplify Development Company is a vertically integrated development and investment company focused on acquiring, developing, and managing quality mixed-use projects. Amplify is experienced in developing and managing a variety of different product types across the real estate spectrum including student housing, mixed-use multifamily, multifamily with an affordable housing component, and retail projects. 

Blue Vista is a leading investment management firm focused on helping investors maximize returns through best-in-class real estate equity and credit strategies across the risk-return spectrum. Since its inception in 2002, the firm has invested over $12 billion in total capitalization across traditional and niche property types, with the goal of challenging the status quo, setting high standards and bringing a relationship-based, client-focused approach to real estate investing.

Los Angeles-based Champion Real Estate Company was founded in 1987 and has consistently achieved annual above-market returns by identifying and maximizing niche opportunities before its competitors. The Company specializes in value-add investment and development in urban infill areas. To date, Champion has completed projects valued in excess of $2 billion consisting of over 3.0m square feet.