WFI Receives $37.5M Refinancing for Student Housing Community Near Auburn University

AUBURN, ALA. — WFI has received a $37.5 million loan for the refinancing of The Union at Auburn, a 501-bed student housing community serving students attending Auburn University in Alabama. The property is located at 900 W. Glenn Ave. and offers two-, three-, four-, five- and six-bedroom units. Tremont Realty Capital provided the financing through Seven Hills Realty Trust, a mortgage REIT managed by the company. The loan is structured with a 30-month initial term and the option for one 12-month extension. Shared amenities include a “state-of-the-art” clubhouse; two-story fitness center, including space for barre, yoga and TRX; business center; 19 study rooms; resort-style swimming pool with an outdoor jumbotron, kitchen and entertainment area; outdoor terrace; dog park; and a self-service bike shop.