REBusinessOnline

HJ Sims Arranges $17.5M Financing for Senior Housing Community in Central Pennsylvania

PITTSTON, PA. — HJ Sims has arranged $17.5 million in financing for United Methodist Homes. The funds will finance an expansion project at the organization’s Wesley Village continuing care retirement community in Pittston, located between Scranton and Wilkes-Barre in Central Pennsylvania. The project will add an undisclosed number of independent living units to the property, through a series of cottages named Brooks Estates. Citizens Bank provided the

NB Private Capital Acquires Student Housing Property Near Sacramento State University for $38.5M

SACRAMENTO, CALIF. — NB Private Capital has purchased The Element, a student housing community located at 6730 Fourth Ave. in Sacramento, from an undisclosed seller. The property was offered as a Delaware Statutory Trust and eligible for 1031 investors, and was 100 percent occupied upon syndication with 12-month leases. The initial total offering price was $91.8 million, of which approximately $38.5 million came from investor equity. Serving students at Sacramento State University, The …

StonebridgeCarras to Develop Virginia Tech’s $1B Campus in Alexandria, Near Amazon Headquarters

ALEXANDRIA, VA. — StonebridgeCarras has been selected to build the Virginia Tech Innovation Campus, a $1 billion, 1 million-square-foot, technology-focused campus in Alexandria, less than two miles from Amazon’s HQ2 future site. Virginia Tech and the State of Virginia will each put forth $250 million to the new campus. Further funds are expected to come via private philanthropy, industry partnerships and other revenue streams. The new campus will be situated in River Landing, a newly …

Bainbridge, Diamond Realty to Develop 492-Bed Student Housing Community Near University of Florida

GAINESVILLE, FLA. — The Bainbridge Cos. has acquired an 11-acre site in Gainesville located near the University of Florida for the development of a 492-bed student housing community. The property — to be named Campus Circle Gainesville — will be developed in a joint venture with Diamond Realty Investments Inc. The four-story, garden-style community will offer shared amenities including an outdoor lounge and study area; resort-style courtyards; swimming pool with private cabanas; …

Servitas Completes $22.7M Student Housing Project for Blinn College in Brenham, Texas

BRENHAM, TEXAS — Developer Servitas has completed Mill Creek Residence Hall, a $22.7 million student housing project serving Blinn College in Brenham, roughly midway between Houston and Austin. The 169,700-square-foot property features 464 suites in four- and two-bed configurations, as well as community study rooms, common areas and onsite laundry facilities. Moss Construction and Hunt Cos. provided general contracting and construction management services for the project, which Kirksey …

Freddie Mac Names Deborah Jenkins as Executive Vice President, Head of Multifamily Business

MCLEAN, VA. — Freddie Mac has announced that Deborah Jenkins will be named executive vice president and head of its Multifamily division, effective immediately. Additionally, Jenkins has assumed a role as member of the company’s Senior Operating Committee. “Debby’s transition into her role as head of the Multifamily business has progressed very well,” said Donald Layton, CEO of Freddie Mac. “Debby is dedicated to ensuring this growing segment of our company continues to be an …

Hunt Provides $9M Loan for Acquisition, Renovation of Student Housing Portfolio Near Virginia Tech

BLACKSBURG, VA. — Hunt Real Estate Capital has provided a $9 million first mortgage bridge loan for the acquisition and renovation of a student housing portfolio located near Virginia Polytechnic Institute and State University (Virginia Tech) in Blacksburg. The acquisition includes two garden-style student housing communities — Carlton Scott Apartments and Stonegate Apartments — totaling 196 beds on two non-contiguous parcels at 500 Broce Drive and 600 Appalachian Drive. The portfolio …

Morehouse School of Medicine, Carter Break Ground for $52M Mixed-Use Project in Atlanta

ATLANTA — Morehouse School of Medicine (MSM) and Carter, an Atlanta-based developer, have broken ground for the first phase of Lee Street Campus, a $52 million mixed-use development in Atlanta’s Historic West End. The $52 million development will include MSM’s first on-campus graduate student housing, offering 187 units in a mix of studio, one- and two-bedroom layouts; a 25,000-square-foot ambulatory health facility; 9,000-square-foot fitness/wellness center; 2,500 square feet of …

Lincoln Ventures Breaks Ground on 239-Bed Student Housing Community in Austin

AUSTIN, TEXAS — Austin-based Lincoln Ventures has broken ground on The Ruckus 2.0, a 239-bed student housing community serving the University of Texas at Austin. The 67-unit property is located at 2401 Rio Grande St. and features amenities such as a gym, sky lounge, study lounge, conference rooms and package service. Completion is slated for fall

Capstone Delivers 1,300-Bed Student Housing Project at University of South Florida

TAMPA, FLA. — Birmingham, Ala.-based Capstone Development Partners has completed the second phase of the Village, an on-campus student housing development at the University of South Florida in Tampa. The second phase of the 2,171-bed mixed-used community features 1,300 beds in three residential buildings. Community amenities include living-learning and activity spaces, classrooms, study rooms and community kitchens, as well as retail space occupied by Starbucks Coffee and BurgerFi. The …

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