Student Housing

EdR Begins Construction on Living-Learning Community at Northern Michigan University

by Christina Cannon August 10, 2016

MARQUETTE, MICH. — EdR has broken ground on a multiple-building living-learning community at Northern Michigan University (NMU) in Marquette. More than 1,200 beds will be delivered in multiple phases during the second half of 2017 and 2018. The community will feature classrooms, study rooms, TV lounges and laundry facilities with Internet and Wi-Fi throughout. The property will also include a large patio and lobbies designed to accommodate art shows, student events, university functions and various types of entertainment. EdR was chosen by NMU to develop, finance, construct and manage the property through its ONE Plan, which uses the company’s equity and financial stability to fund projects on university land. Upon completion, EdR will operate the residence halls under a 75-year lease with NMU and will manage the facility, while NMU will provide residence life services.

August 10, 2016

Iowa Midwest Multifamily Student Housing

University of Iowa, Miron Construction Top Out 1,049-Bed Residence Hall

by Christina Cannon August 10, 2016

IOWA CITY, IOWA — The University of Iowa and Miron Construction have topped out Madison Street Residence Hall, a 12-story on-campus living and dining facility. The 311,000-square-foot development will deliver 1,049 new beds to the university in summer 2017. The property will also feature recreational and gaming space; multipurpose space; flexible study lounges; administrative offices and living units; a fitness center; community lounges; a full-scale dining facility; and future capability for an elevated courtyard. Harley Ellis Devereaux (HED) is the design architect, and Rohrbach Associates is the architect of record for the project.

August 10, 2016

Florida Southeast Student Housing

CollegePlace Partners Acquires Student Housing Portfolio Near FSU for $22.7M

by John Nelson August 3, 2016

TALLAHASSEE, FLA. — Real estate investment firm CollegePlace Partners has acquired The District, a 311-bed student housing portfolio located adjacent to Florida State University in Tallahassee. The company purchased the portfolio in an off-market transaction for $22.7 million. The District comprises eight townhome and flat-style buildings, featuring 90 three-, four-, five- and six-bedroom units. Andrew Kirsh and Serineh Baghdasarian of Los Angeles-based law firm Sklar Kirsh LLP represented CollegePlace Partners in the acquisition. CollegePlace Partners has engaged Asset Campus Housing, the nation’s largest third-party student housing management company, to manage the portfolio.

August 3, 2016

Loans Louisiana Southeast Student Housing

CBRE Arranges $48M Construction Loan for Student Housing Community Near LSU

by John Nelson August 1, 2016

BATON ROUGE, LA. — CBRE has arranged $48 million in construction financing for the development of Park Place, a 745-bed student housing community to be located adjacent to the Louisiana State University campus in Baton Rouge. The six-story project is scheduled for completion in 2017. CBRE secured the three-year, floating-rate loan through Commercial Bank Syndication on behalf of the Park 7 Group.

August 1, 2016

Southeast Student Housing Tennessee

Campus Advantage, Pinecrest Partners Deliver Student Housing Project in Knoxville

by John Nelson July 29, 2016

KNOXVILLE, TENN. — Campus Advantage and Pinecrest Partners have completed the construction of The Knox, a 382-bed student housing community located within walking distance of The University of Tennessee campus in Knoxville. Resident occupancy will begin Aug. 13, with some early move-ins scheduled for the first week of August. The property offers three-, four- and five-bedroom, fully furnished units with 42-inch flat screen TVs, granite countertops, in-unit laundry and cable television and high-speed wireless internet service. Community amenities include an open-air entertainment deck featuring two oversized hot tubs, grills, hammocks and an outdoor theater area; gated garage parking; 24-hour fitness center; coffee bar; and private study rooms.

July 29, 2016

Loans Multifamily Student Housing Texas

CBRE Arranges $38M Construction Financing for Student Housing Near Baylor

by Haisten Willis July 28, 2016

WACO, TEXAS — CBRE Capital Markets’ debt and structured finance team has arranged $38 million in construction financing for the development of a student housing property near Baylor University. Benjamin Roelke of CBRE’s Dallas office arranged the three-year, interest-only loan with extension options on behalf of the developer, Park 7 Group. Financing was provided by three different regional and commercial banks. The property, Park Place at Baylor, will be located at 909 Baylor Ave. and include 724 beds in 261 units. The property will be within a five-minute walk to Baylor’s campus. The five-story, mid-rise property will provide amenities including a swimming pool and hot tub, cabanas, sand volleyball court, outdoor fireside lounge, grilling areas, gaming rooms, fitness studio, study areas and a computer center. Park Place at Baylor is scheduled for completion in summer 2017.

July 28, 2016

Florida Loans Southeast Student Housing

Walker & Dunlop Arranges $22M Refinance for Student Housing Portfolio in Gainesville

by John Nelson July 26, 2016

GAINESVILLE, FLA. — Walker & Dunlop Inc. has arranged a $22 million refinance loan for a portfolio of three student housing communities located near the University of Florida campus in Gainesville. Paul Ahmed of Walker & Dunlop arranged the 10-year, fixed-rate loan with a 30-year amortization schedule on behalf of the borrower, Trimark Properties. The portfolio of properties includes Solaria II, Tuscana and Savion Park. Altogether, the three properties comprise 114 units and 157,000 square feet. Community amenities at the properties include private balconies, internal courtyards, parks with jogging paths, electric wine chillers and 24-hour concierge services.

July 26, 2016

Loans Mississippi Southeast Student Housing

Bellwether Enterprise Arranges $16.4M CMBS Loan for Student Housing Property in Oxford

by John Nelson July 19, 2016

OXFORD, MISS. — Bellwether Enterprise has arranged a $16.4 million CMBS loan for The Cottages at Hooper Hollow, a 280-bed student housing community in Oxford. The property is located on the University of Mississippi’s campus. Jeremy Chism of Bellwether Enterprise’s Memphis office arranged the loan through LStar on behalf of the borrower, Trinity Business Group. Bellwether Enterprise, the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc., closed 17 loans totaling $195 million in the month of June, including the Oxford transaction.

July 19, 2016

Multifamily New Mexico Student Housing Western

Signet Development, UNM Break Ground on $35M Student Housing Community

by Nellie Day July 13, 2016

ALBUQUERQUE, N.M. — Signet Development, in partnership with the University of New Mexico (UNM), has broken ground on Lobo Rainforest, a $35 million, 160,000-square-foot living-learning community located within the planned Innovate ABQ district in downtown Albuquerque. The six-story property will house over 300 UNM students studying in entrepreneurial education programs. Signet will own and develop the property through a lease arrangement with UNM, which will manage and operate the facility. The property will also be home to UNM’s Innovation Academy, meeting and collaboration rooms, and several business startup organizations including Innovate New Mexico and STC.UNM’s Joseph L. Cecchi VentureLab business incubator. Other tenants will include the Air Force Research Laboratory and various retail outlets. Dekker/Perich/Sabatini is the architect for the project, and Jaynes Cos. is the construction group. The property is scheduled for completion in August 2017.

July 13, 2016

Loans Multifamily Student Housing Texas

NorthMarq Capital Arranges Financing for Student Housing Community in San Marcos

by Haisten Willis July 13, 2016

SAN MARCOS, TEXAS — Steve Whitehead and Lee Weaver of NorthMarq Capital have arranged acquisition financing for Villagio Apartments, a 492-unit student housing property located at 1850 Aquarena Springs Drive in San Marcos. The financing was structured with a seven-year term with one year of interest-only payments followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac.

July 13, 2016

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