Insights > Deals
Akara and Deven close funding for 305‑bed San Diego student scheme
16 October 2026 | JV | US | 305 beds | Development
Construction is starting beside San Diego State University, with delivery targeted for the 2028/29 academic year.
Key details
Asset type | Development |
Location | San Diego, US |
Capacity | 305 beds |
Party 1 | Akara Partners |
Party 2 | Development Ventures Group |
Adviser | JLL Capital Markets |
Value | Undisclosed |
Akara and Deven, part of Kajima USA, are co‑general partners and co‑developers of the project, having secured construction financing and equity for the eight‑storey development at 5077 College Avenue. Located approximately 100 feet from the campus core, the scheme will provide 110 apartments and 305 student beds, with construction expected to begin immediately.
Strategic context
Akara spent more than two years sourcing the site and securing the necessary entitlements before closing the financing, with Deven joining as the project moves from planning into funded construction. The partnership combines Akara's project origination and entitlement expertise with the resources of an institutionally backed development partner.
Meanwhile, the site's proximity to the university and trolley station supports a campus‑focused student housing development with reduced reliance on car commuting.
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