NDG Student Living and OC Ventures Expand SUNY Footprint With 371-Bed Student Housing Acquisition

CHICAGO, Feb. 14, 2019 /PRNewswire/ -- NDG Student Living announces that OC Ventures has acquired Twin River Commons, a Class "A," student housing community serving the students at Binghamton University. The 371-bed student community consists of one-, two-, three- and four-bedroom luxury residences. The property is professionally managed by NDG Student Living.

This is OC's third acquisition of a student property at a flagship SUNY school in the last year, previously acquiring Block20 at the University of Buffalo and Block75 at the University of Albany. With 1,282-beds in Upstate New York, OC Ventures is the second-largest, off-campus student housing provider in New York.

"The acquisition of Twin River Commons, a high-quality purpose-built student housing community in the Binghamton University market, further increases OC Venture's presence in the State University of New York (SUNY) system," said Steve Zhang, CIO of OC Ventures. "All three major flagship SUNY schools in Albany, Binghamton, and Buffalo are experiencing record-breaking freshman classes and total enrollment thanks, in large part, to the state's investment in higher education with their Excelsior Scholarship. With virtually no imminent on- or off-campus development in the pipeline, we believe our assets in all three markets are positioned to benefit from the improving strength of these markets."

Built in 2012, the property has large, furnished floor plans, full-size washers/dryers in every unit, modern stainless-steel appliances, and offers cable TV service and high-speed Wi-Fi. The community also boasts a fitness center, study lounges on every floor, a cafe, recreation room, courtyard with outdoor kitchen, and free tanning services.

Twin River Commons is the only purpose-built student housing property in downtown Binghamton and appeals to students attending Binghamton University and SUNY Broome. Adjacent to Binghamton University's downtown center in the heart of the city, students are within walking distance to many popular restaurants and nightlife and convenient access to the University's campus shuttle service.

"Twin River Commons has long been the premier choice for students at Binghamton University," said Jerry Wojenski, CEO of NDG Student Living. "OC has truly acquired a gem of a property. OC's decision to retain NDG Student Living as the property manager showcases our record of providing excellent service to our residents."

About OC Ventures: OC Ventures is a Chicago-based real estate investment firm specializing in student housing. The company is active nationally, focused on opportunistic investments. For additional information, contact Steve Zhang at [email protected].

About NDG Student Living: NDG Student Living is a New York-based student housing management firm. NDG manages over 2,400-beds in New York and North Carolina with plans to expand nationally. For additional information, contact Colton Price at [email protected].

SOURCE NDG Student Living