Greystone Provides $28.2M Acquisition Loan for Student Housing Complex in Idaho
REXBURG, IDAHO — Greystone has provided a $28.2 million Fannie Mae DUS loan for the acquisition of Northpoint Apartments, a student housing property in Rexburg.
Dale Holzer of Greystone’s Newport Beach, Calif., office originated the loan for the undisclosed borrower. The loan carries a 10-year term, fixed rate and five years of interest-only payments.
Built in 2014, the 154-unit property serves the Brigham Young University-Idaho population with 1,024 student beds. On-site amenities include a private gym, theater, music rooms and community-sponsored activities, such as pizza parties and game nights.