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California  + San Diego  + Student Housing  | 

Purpose-Built Student Housing Near SDSU Has Financing in Place

Construction financing and equity has been assembled for 5077 College Ave., a Class A purpose-built student housing development adjacent to San Diego State University (SDSU). Terms were not disclosed. The project is a joint venture between Akara Partners and Deven Group as co-general partners and co-developers. Construction begins immediately, with delivery targeted for the 2028–29 academic year.

“Across our housing platform, we seek the best locations in markets that pair strong long-term growth with high barriers to entry, and SDSU is a perfect example of both,” said Rajen Shastri, founder and CEO of Akara Partners. “We sourced and entitled this site over two years, and we’re proud to be developing it alongside our partner Deven Group.”

Located on the corner of College Avenue and Montezuma Road, roughly 100 feet from the SDSU campus core, the eight-story, 110-unit development will deliver 305 beds across approximately 98,500 square feet on a transit-oriented infill site.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 19-plus years’ experience covering the commercial real estate industry and 35-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 11-15 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing
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