JOHNSON CAPITAL SECURES $18.6M IN STUDENT HOUSING FINANCING

SAN ANTONIO AND AKRON, OHIO — Johnson Capital's Dallas office has arranged $18.6 million in joint venture equity financing for the construction of two new student housing developments in San Antonio and Akron. The NRP Group LLC (NRP), the borrower and developer of the communities, has broken ground on the projects and is expecting to wrap up construction before the fall 2014 semester. The San Antonio complex is called The Luxx, which will house students from the University of Texas at San Antonio. The 668-bed development costs approximately $32 million to build. The Akron facility is called The Depot, which will house students from the University of Akron. The 624-bed facility costs approximately $37 million to construct. A corporate investor provided the equity capital.