RiverOak and Oculus acquire 200-unit student housing property - $23.55 million

RiverOak Investment Corp., Inc., a private real estate investment fund sponsor, in a joint venture with Oculus Capital Group (OCG) of Washington, D.C., has acquired The Ivy, a class A, 200-unit, 632-bed student housing property located adjacent to Slippery Rock University (The Rock). The purchase price was $23.55 million The seller was Huntington Bank, pursuant to a foreclosure. Construction of the subject property was completed in 2007 at a total cost of $31 million.