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PULLMAN, WASH. — Highland Realty Capital has secured a $41 million bridge loan for The Ruckus, a 976-bed student housing community located near Washington State University in Pullman.
The company secured financing — $2 million of which will be used to convert 89 four-bedroom units into three-bedroom units with bed-to-bath parity — through a Los Angeles-based debt fund on behalf of the borrower, NB Private Capital (NBPC).
“Bed-to-bath parity is always an issue, and with COVID-19, it became an obvious upgrade for us to make,” says Blake Wettengel, president of NBPC.