OXFORD, MISS. — Seven Hills Realty Trust has provided a $42 million bridge loan for the refinancing of The Domain at Oxford, a 642-bed student housing property located near the University of Mississippi. Newmark arranged the three-year loan on behalf of the borrower, Sausalito, Calif.-based Shore to Shore Properties Inc. The loan features two one-year extension options. Located at 2002 Oxford Way, The Domain features 216 one-, two- and four-bedroom apartments, each furnished with a 43-inch TV. According to Apartments.com, the gated community was built in 2016 and features an onsite property manager and maintenance team, valet trash pickup, package retrieval services, campus shuttle and community-wide Wi-Fi. Community amenities include a resort-style pool, business center, clubhouse, fitness center, conference rooms, a tanning salon, movie theater, basketball and volleyball court and a game room. Tremont Realty Capital manages Seven Hills Realty Trust.
BERKELEY, CALIF. — The University of California, Berkeley has completed Anchor House, a 772-bed residence hall for transfer students. The 14-story community spans 450,000 square feet and offers 244 units in studio, two- and four-bedroom configurations. Apartments are fully furnished and offer private bedrooms with built-in desks, full kitchens and in-unit washers and dryers. Shared amenities include a central courtyard with multiple outdoor terraces and balconies; outdoor space for work and gathering; maker space run by the Berkeley Art Studio, which hosts classes for students and the community; a culinary classroom and rooftop vegetable garden for the Rausser College of Natural Sciences; two event spaces with catering kitchens; and an 8,600-square-foot fitness center with a yoga and meditation room. The community offers flexible rent prices to help transfer students with low-income backgrounds and first-generation college students. The development team for the project included Morris Adjmi Architects, BDE Architecture, BCV Architecture, Andrea Cochran Landscape Architecture, PAE Engineers, BKF Engineers and Luma Lighting Design. The development was funded by philanthropic donations and opened ahead of the 2024-2025 academic year. The development team is also targeting LEED Gold certification for the property.
FULLERTON, CALIF. — Sundt Construction has broken ground on the redevelopment of two residence halls on the California State University, Fullerton campus. The project will replace the Jewel Plummer and Cobb Residence Halls, which were the first residence halls built on campus in 1979. The new 175,000-square-foot facility will offer 500 beds in two-bedroom units with bed-to-bath parity for residents; two-bedroom apartments for staff; and one-bedroom units for residence advisors. The project will also include shared amenity space on the ground floor, an updated connection to the university’s arboretum and an 82-space parking lot. A timeline for the development was not announced.
SAN DIEGO — The University of California San Diego has completed the Theatre District Living and Learning Neighborhood, a 1.4 million-square-foot development offering 2,000 beds of housing for undergraduate students. The project, which comprises five buildings, was developed on a site formerly occupied by a surface parking lot. Units, including 48 beds reserved for resident advisors, are offered at below market-rate rents. Shared amenities include a 490-seat auditorium; large community areas, including retail and dining space; a food hall; conference center with four hotel rooms; fitness center; meditation pavilion; tea house; and academic and administration space. The property also features terraced parking gardens offering 1,200 spaces for residents, faculty and daily visitors. The project’s design-build team included architect HKS, design-builder Kitchell, associate architect EYRC and landscape architect SWA.
TUSCALOOSA, ALA. — The Preiss Co. has acquired Riverfront Village, a 440-bed student housing community located near the University of Alabama campus in Tuscaloosa. Preiss purchased the 92-unit community in partnership with Crow Holdings Capital. The buyers are planning capital improvements, including renovations to select units, a clubhouse redesign, upgrades to the swimming pool and comprehensive technological updates. The seller and sales price were not disclosed.
LAWRENCE, KAN. — The Preiss Company has acquired The Collective at Lawrence, a 784-bed, cottage-style community located near the University of Kansas in Lawrence. Formerly known as The Nest, The Collective at Lawrence was built in 2018 and offers 270 units. Shared amenities include a state-of-the-art clubhouse, indoor/outdoor fitness center, swimming pool, hot tub, disc golf course, soccer field and study areas. Enhancements are planned for the community and will include comprehensive technology upgrades.
COLUMBIA, S.C. — A joint venture between Campus Advantage and Tramview Capital Management has acquired Alight Columbia, a 700-bed student housing community located near the University of South Carolina campus in Columbia. The new ownership plans to rebrand the 206-unit property as “The Radley.” The community offers a mix of two- and four-bedroom units alongside shared amenities including a fitness center, swimming pool, outdoor grilling station, tennis courts, basketball and sand volleyball courts, resident clubhouse and a business center.
TYLER, TEXAS — Colliers Mortgage has arranged a $34.6 million acquisition loan for The Foundry, a 675-bed student housing property that serves the University of Texas at Tyler, located about 120 miles east of Dallas. The Foundry is located across the street from campus and offers amenities such as a pool, clubhouse, game room, fitness center, outdoor picnic and grilling areas and a sand volleyball court. Greg Young of Colliers Mortgage originated the debt, which includes proceeds for capital improvements. The borrower and direct lender were not disclosed.
CLEMSON, S.C. — Athens, Ga.-based Landmark Properties has acquired The Ridge Clemson, a 616-bed student housing community located at 205 Tiliwa Court near the Clemson University campus in South Carolina. Built in 2018, the property offers 184 fully furnished units in a mix of two-bedroom apartments and four-bedroom townhomes. Shared amenities include a resort-style swimming pool, lazy river, hot tub, jumbotron, clubhouse, full basketball court, dog park, fitness center, study lounges and a coffee bar. TSB Capital Advisors coordinated financing for the acquisition, the terms of which were not disclosed. The community was 97 percent occupied at the time of sale.
JLL Secures $45M Acquisition Financing for Garden Village Student Housing Community Near UC Berkeley
BERKELEY, CALIF. — JLL Capital Markets has secured $45 million in financing for Hawkins Way Capital’s acquisition of Garden Village, a student housing community in Berkeley. Located at 2201 Dwight Way, Garden Village offers 77 residential units for students. The property will be operated as the FOUND Study Southside Berkeley and will be managed by FCL Management. Built in 2016 near the University of California, Berkeley (UC Berkeley), the mid-rise property offers a mix of two- and four-bedroom floor plans, a rooftop farm and flower garden, secured access, outdoor patios, an indoor lounge, laundry room, fitness center and bike storage. The community consists of 18 buildings, totaling 64,301 square feet. Brandon Smith, Annie Rice and Gyasi Edmondson of JLL Capital Market’s Debt Advisory arranged the two-year, floating-rate loan through Limekiln Real Estate Investment Management. The financing package includes an initial funding of $36 million, with an additional $9 million available for future funding.
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