Philadelphia and Columbia, S.C. — BridgeInvest has provided loans totaling $84.3 million for the refinancing of two student housing communities in Pennsylvania and South Carolina. The borrowers in both transactions were not disclosed. The Avery, a 241,000-square-foot community offering 796 beds near Temple University in Philadelphia, received a $54.3 million refinancing. The property was updated in 2021 and features three ground floor retail spaces, two of which are occupied by Fat Shack and Jimmy John’s. The Rowan, a townhome-style community located near the University of South Carolina’s Williams-Brice football stadium, received a $30 million refinancing. The property was developed between 2007 and 2008 and offers 1,002 beds across 350 units. The community underwent significant renovations beginning in 2019. Asset Living manages both properties.
BridgeInvest Provides $84.3 Million Refinancing for Two Student Housing Properties in Pennsylvania, South Carolina
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