Greystar Closes on Land for Hornet Place
Sacramento, CA – September 18, 2025 – Greystar, a global leader in investment management, development, and property management, today announced the successful land closing for the development of Hornet Place, in partnership with University Enterprises Inc. (UEI), a nonprofit public benefit corporation that serves California State University, Sacramento, and JLC Infrastructure, an asset management firm focused on infrastructure equity investments in North America with $2.3 billion of assets under management.
Hornet Place will deliver a new student community at 7700 College Town Drive in Sacramento, California, offering on-campus affiliated housing for California State University, Sacramento students. The site is directly adjacent to Hornet Commons, further expanding Greystar’s student housing presence in the area.
“We are excited to expand Greystar’s student housing presence in Sacramento with a community that complements Hornet Commons and further supports the academic experience,” said Gabriel Gardner, Senior Director of Development at Greystar. “Our goal is to provide students with living spaces that enhances both their educational journey and quality of life.”
The four-story development will include 101 units and 352 beds in a mix of one-, two-, and four-bedroom floorplans, including double-occupancy layouts. Amenities will feature a swimming pool, fitness center, dedicated study spaces, media and game rooms, outdoor fire pit and BBQ areas, surface parking, and secure bike storage. The project will also deliver 1,832 square feet of ground-floor retail space.
“UEI has a rich history of providing services and facilities dedicated to Sacramento State that assist the university in the pursuit of its educational mission. UEI is pleased to once again provide critical support to the university by collaborating with Greystar and JLC on this project which will deliver state-of-the-art housing exclusively benefiting Sacramento State students.”
”Hornet Place marks an exciting milestone as JLC’s first investment in student housing, and we are honored to partner with Greystar and UEI on this important project,” said Marlon Smith, Managing Director at JLC. “This development reflects our broader mission of building critical infrastructure that strengthens communities. By addressing the clear need for modern, on-campus living, Hornet Place will help create a supportive environment where students can thrive academically and personally.”
Construction is scheduled to begin in September 2025, with leasing anticipated in August 2026 and completion expected in April 2027.
About Greystar
Greystar is a leading, fully integrated global real estate platform offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing. Headquartered in Charleston, South Carolina, Greystar manages and operates over $300 billion of real estate in nearly 250 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing over 1,000,000 units/beds globally. Across its platforms, Greystar has over $79 billion of assets under management, including over $35 billion of development assets and over $30 billion of regulatory assets under management. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business.
About University Enterprises Inc.
University Enterprises, Inc. (UEI), a Sacramento State non-profit auxiliary organization, exists to meet the evolving needs of the campus community by providing programs and services that support and strengthen the Sacramento State experience. Each day, UEI’s management and staff work to advance Sacramento State’s commitment to being an integral educational, intellectual, economic, social, and cultural resource for the region.
About JLC Infrastructure
JLC Infrastructure is an investor and asset management firm focused on the sustainable energy, utilities, transportation, and social infrastructure sectors in the U.S. The firm was formed in 2015 by Earvin “Magic” Johnson of Magic Johnson Enterprises and Jim Reynolds of Loop Capital. JLC has a broad network of longstanding relationships with municipalities, governments, infrastructure companies, strategic partners, advisors and financing providers throughout the country and seeks to invest in critical infrastructure projects that provide long term benefits to the communities they serve. For more information, please visit JLC’s website
Media Inquiries
Emma Mitchell
emma.mitchell@greystar.com