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Oculus Capital JV Scores 632-Bed Student Housing Asset

SLIPPERY ROCK, PA-A joint venture between RiverOak Investment Corp. and Oculus Capital pay just under $24 million for The Ivy.

By Ian Ritter | Updated on October 19, 2010

SLIPPERY ROCK, PA-A joint venture between Oculus Capital Group and RiverOak Investment Corp. spent just under $23.6 million on The Ivy, a 200-unit student-housing complex by Slippery Rock University, acquiring it from Huntington Bank. The facility was constructed in 2007 at a cost of $31 million.

Washington DC-based Oculus paid for the bulk of the acquisition, spending about $18.4 million. The firm also has control of an 18-acre parcel on which it can build another building with 44 units and 152 beds.

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