Capital One Provides $19.3M Fannie Mae Loan for Student Housing Acquisition in Savannah

SAVANNAH, GA. — Capital One Multifamily Finance has provided a $19.3 million Fannie Mae loan for the acquisition of The Blake, a 270-bed student housing community located less than a half-mile from the Savannah College of Art and Design in Savannah. Tim Smits of Capital One originated the 10-year loan with four years of interest-only payments and a 30-year amortization schedule on behalf of the buyer, Maryland-based Hopkins Holding. The seller, which developed the property in 2016, was a joint venture between Campus Works, Kaplan Residential and McKinney Fund & Co. The Blake features a clubhouse, covered outdoor patio, a 5,000-square-foot pool terrace and a lounge with cabanas.