STUDENT HOUSING PROPERTIES FETCH $52M

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DENTON AND LUBBOCK — HFF has secured $52 million in acquisition financing for the 125-unit The Retreat at Denton near the University of North Texas, located at 500 Inman St. in Denton, and the 218-unit The Retreat at Lubbock near Texas Tech University, located at 3824 Erskine St. in Lubbock. Dave Keller and Ken Martin of HFF's Indianapolis office arranged the 5-year loans through the Freddie Mac CME Program on behalf of the borrowers, Chicago-based The Scion Group and Arch Street Capital Advisors, which received $18 million for the Denton property and $34 million for the Lubbock property. The Scion Group has rebranded the properties as The Republic at Denton and the Republic at Lubbock.

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