Jacksonville, Ala. and Wichita Falls, Texas — Calidus has received $25 million for the refinancing of two student housing properties in Alabama and Texas. Communities include Mustang Village, located less than one mile from the Midwestern State University campus in Wichita Falls, Texas; and Gamecock Village, located blocks away from the Jacksonville State University campus in Jacksonville, Alabama. The properties offer a combined 504 beds in two- and three-bedroom units with bed-to-bath parity. Shared amenities at both properties include resort-style swimming pools, fitness centers, game rooms, study space, sand volleyball and basketball courts and picnic areas. Dan Kearns, Patricia Heminger, Dave Hunter and Katia Novi of JLL secured the loan through Deutsche Bank CMBS.
Calidus Receives $25 Million Refinancing for Two Communities in Alabama, Texas