CBRE Brokers 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 student housing community located near Auburn University. The property comprises 13 three-story buildings offering two-, three- and four-bedroom units. Shared amenities include a 24-hour fitness center, swimming pools, heated spa, game room, picnic areas, sand volleyball court, computer lounge, clubroom, private study areas and a lighted basketball court. BCEG International Investment-US purchased the community for an undisclosed price. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Brett Kingman and Russ Oldham of CBRE arranged the transaction on behalf of the undisclosed seller. Ben Roelke and Ian Walker of CBRE originated a Freddie Mac Green Program acquisition loan on behalf of the buyer. The 10-year loan features a fixed 3.66 percent interest rate and five years of interest-only payments.