A Hawaii-based investor has quietly scooped up one of Sacramento's largest off-campus student housing complexes, taking a prime position just a block from California State University, Sacramento. The Shidler Group has acquired the Wexler on 65th, a roughly 762-bed community serving Sac State students, in a deal first reported Saturday.
Deal details
As reported by the Sacramento Business Journal, the Honolulu-based Shidler Group purchased the Wexler on 65th near Sac State, a purpose-built student complex with about 762 beds. The sale price was not disclosed.
Who is Shidler?
The Shidler Group is a Honolulu-headquartered investment firm that specializes in long-term land and leased-fee interests beneath multifamily properties, a strategy the company highlights on its website. Instead of always operating apartment buildings itself, the firm often acquires the land or leased-fee interests and pairs those with third-party operators, according to The Shidler Group.
A quick history of the Wexler
The Wexler was financed and built after construction funding was secured in 2020 and was planned as a multi-building project aimed squarely at Sacramento State students. Developer materials describe a $73.3 million construction loan and a roughly 223-unit program with a multistory parking garage and about 7,500 square feet of ground-floor commercial space, per The Martin Group.
Location and scale
The complex sits at the corner of 65th Street and Folsom Boulevard, roughly a block from Sac State and adjacent to the University/65th Street light-rail station, and is marketed at 1500 67th Street. Local listings describe the six-story building as having "over two hundred twenty (220) dwelling units" and put the total bed count at about 762, per Turton Commercial Real Estate.
What this could mean
The sale is another example of out-of-market investors piling into large off-campus complexes as student housing continues to be a tightly targeted niche. The Shidler Group's land-focused strategy, holding long-term ground interests while other parties operate the buildings, can appeal to institutional capital looking for stable returns, according to The Shidler Group.
Key details such as any changes in day-to-day management or the purchase price were not included in initial reporting. Local renters and Sac State students will likely be watching for any shifts in leasing terms or amenities under the new landowner. This story will be updated as more information becomes available.
