HighBridge Properties has sold Lincoln40, a 706-bed student housing community currently under development near the University of California, Davis. Grand Peaks Properties acquired the project for an undisclosed price. HighBridge began construction on the community last fall, and will continue to co-develop the property alongside the new ownership.
Upon completion, the community will offer two-, three-, four- and five-bedroom, fully furnished units with bed-to-bath parity. Shared amenities will include private study areas, a fitness facility, game room and lounge, as well as an outdoor swimming pool with cabanas and outdoor lounges featuring barbecue stations and gas fire pits.
The development team also plans to contribute $1 million to the City of Davis for the construction of a pedestrian/bicycle bridge over the railroad tracks just north of the property, connecting to the city’s downtown business district.
The project is scheduled for completion in fall 2021. The name is a reference to the project’s proximity to Route 40, also known as Lincoln Highway, according to the Davis Enterprise.
