On September 30th, Warmington closed escrow on PRISMA, its third student housing project within the San Diego State University market. Warmington purchased the property directly from the developer for $6.0 million, with equity funded through its Friends & Family program.
PRISMA joins Warmington’s other two student housing projects, CERCA and ZUMA for a portfolio totaling 232-beds/49-units and fits neatly within the W Student Housing brand.
The property is extremely well located within the market, just one block from campus and a short walk to local area amenities. PRISMA is comprised of 42 beds within eight 4-bedroom units ranging in size from 1,232 to 1,592 sq. ft. Community amenities include fully-furnished units, onsite management and maintenance staff, gated garage, controlled-access entries, high-speed Internet and Wi-Fi, lounge with TV, printer, coffee bar, study rooms and deck.