REBusinessOnline

Student Housing

SunTrust Provides $58.3M Construction Loan for 26-Story Student Housing Tower in Downtown Atlanta

ATLANTA — SunTrust Banks Inc. has provided a $58.3 million construction loan for the development of 120 Piedmont, a 685-bed student housing community located a half-mile from Georgia State University in downtown Atlanta. SunTrust originated the loan on behalf of the developer, South City Partners. The $90 million project will total 467,125 square feet, including 8,200 square feet of retail space. Community amenities will include a rooftop deck with an outdoor living room, grilling area and..

December 12, 2017

NorthMarq Secures $11M Financing for Student Housing Complex Near Grand Canyon University

PHOENIX — NorthMarq Capital has secured an $11 million loan for the refinance and conversion into student housing of GC Square Apartments, a 163-unit multifamily community located near Grand Canyon University in Phoenix. The property will be the first off-campus property to directly serve the Grand Canyon University student base. Luke Donahue and Griffin Martin of NorthMarq secured the non-recourse, interest-only loan on behalf of the undisclosed borrower.

December 5, 2017

CBRE Arranges Sale of 900-Bed Student Housing Community Near Auburn University

AUBURN, ALA. — CBRE has arranged the sale of The Connection at Auburn, a 900-bed, 312-unit student housing community located less than three miles from the Auburn University campus and a half-mile from College Street, one of Auburn’s main thoroughfares. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE, in conjunction with CBRE’s Nashville Multifamily team, arranged the transaction on behalf of the buyer, University Partners. A private real estate fund managed by Crow Holdings..

November 29, 2017

JV to Develop 687-Bed Student Housing Property in Arlington

ARLINGTON, TEXAS — A joint venture between Dallas-based Fountain Residential Partners and HC2 Capital LLC will develop 8FOUR8 Mitchell, a 687-bed student housing property that will be located on West Mitchell Street just west of Cooper Street near the University of Texas at Arlington. The property’s 298 units will consist of a mix of one-, two-, three-, four- and five-bedroom residences. Amenities will include a resort-style pool, a 9,000-square-foot clubhouse with a fitness center and..

November 20, 2017

Colliers Brokers $21.5M Sale of Student Housing Community Near University of Washington

SEATTLE — Colliers International has arranged the sale of Prexy Apartments, a 70-bed student housing community located near the University of Washington in Seattle’s University District. The property offers studio, one- and two-bedroom units. Shared amenities include a rooftop lounge and smartphone application-controlled thermostats, locks and lighting. Dylan Simon, Jerrid Anderson and Dorothy Jackman of Colliers International represented the seller, Daly Partners, in the disposition of..

November 15, 2017

Texla Housing Partners Sells Element Sacramento Near CSU Sacramento

SACRAMENTO, CALIF. — Texla Housing Partners has sold the Element Sacramento, which is situated near the campus of California State University, Sacramento. Texla purchased the asset in December 2015 through its VerTex Student Housing Partners JV with Harrison Street Real Estate Capital. Built in 2004, Element Sacramento contains 288 units and 792 beds. It features a mix of one- to four-bedroom units. Over the hold period, Texla’s management arm, VerTex Student Housing Management, executed..

November 9, 2017

HFF Arranges $103.3M in Construction Financing for Mixed-Use, Student Housing Project in Downtown Orlando

ORLANDO, FLA. — HFF has arranged $103.3 million in financing for the development of a mixed-use, student housing development in downtown Orlando. The project is part of the University of Central Florida (UCF)/Valencia Downtown Campus at Creative Village. The Creative Village project is a redevelopment of the former Amway Arena site into a 68-acres mixed-use, transit-oriented community. Michael Weinberg, Brian Kelly and Mike Higgins of HFF arranged the financing on behalf of the project's..

November 9, 2017

TSB Realty Brokers Sale of New Student Housing Community Near University of Maryland

COLLEGE PARK, MD. — TSB Realty LLC has arranged the sale of Terrapin Row, a 1,493-bed student housing community located adjacent to the University of Maryland in College Park. A joint venture between Toll Brothers Campus Living and a fund managed by Ares Management developed the property, delivering in the fall of 2016. The sales price and buyer were not disclosed. Terrapin Row offers a mix of studio to four-bedroom floor plans, plus selected two-and four-bedroom townhome-style units...

November 7, 2017

TSB Realty Arranges Sale of Student Housing Community Near CSU Sacramento

SACRAMENTO, CALIF. — TSB Realty LLC has arranged the sale of The Element, a 792-bed student housing community located near California State University-Sacramento. The community offers one-, two-, three- and four-bedroom, fully furnished units. Shared amenities include a resort-style swimming pool, updated fitness facility, covered basketball half-court, lighted sand volleyball court and game room. TSB represented the seller, a joint venture between VerTex Student Housing Partners and Harrison..

November 1, 2017

Positive Investments Receives $16.9M Refinancing for Student Housing Property in Riverside, California

RIVERSIDE, CALIF. — Positive Investments has received a $16.9 million refinancing for International Village, a 341-bed student housing community located on the University of California, Riverside campus. Positive Investments acquired the property, which is subject to a ground lease agreement with regents of the University of California, in 2016. The community partners with the University of California, Riverside, to provide housing for students from around the world attending the..

October 31, 2017