REBusinessOnline

HOLLIDAY FENOGLIO FOWLER ARRANGES $33 MILLION STUDENT-HOUSING LOAN

RIVERSIDE, CALIF. — Holliday Fenoglio Fowler LP has arranged nearly $33 million in financing for Sterling University Palms Student Housing, located adjacent to the University of California – Riverside campus at 1400 University Ave. The 96 percent-leased property consists of five buildings totaling 152 units and 528 bedrooms. HFF’S Tim Wright, Rob Hinckley and Zack Holderman represented Pierce Education Properties in securing the 10-year, 5.38 percent fixed-rate loan through Freddie Mac.

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