Dearborn, Mich. — District Capital has secured a $25.1 million first mortgage loan for a 622-bed student housing community at the University of Michigan – Dearborn. Mike Lemon of District Capital arranged the nonrecourse loan through an undisclosed bank. The loan features a five-year term, fixed interest rate, one year of interest-only payments and a 30-year amortization.
Conway, S.C., Ruston, La. and Tampa, Fla. — JLL Capital Markets has secured refinancings for three student housing communities across the Southeast. Lee Weaver, Melissa Marcolini Quinn, Rob Rothaug and Jade Starkey of JLL worked on behalf of Commercial Street Partners to secure a $97.5 million refinancing for Apella on Newport in Tampa. The three-year, floating-rate loan was placed through MF1/Limekiln Real Estate Investment Management. The newly constructed community spans 195,076 square feet at 311 North Newport Ave. near the University of Tampa campus. The property offers 576 beds across 150 …
Austin, Texas — While interest rate volatility and the potential implications of tariffs loom heavy over lending and transactional activity in the student housing space, the outlook remains bright for 2025 according to panelists at the 17th annual InterFace Student Housing conference. “Despite the expectation that interest rates would remain higher for longer, the student housing capital markets did indeed start off the year hot,” began moderator Ian Bradley, partner with TSB Capital Advisors, during a capital markets panel on April 10. “We’re seeing increased lender liquidity and lofty 2025 allocations combined …
Athens, Ga. — Mesa Capital West has provided a $134 million loan to refinance Rambler Athens, a newly constructed, 750-bed student housing complex located adjacent to the University of Georgia in Athens. The four-year loan will refinance the existing construction loan for the property. Harrison Reid of TSB Capital Advisors arranged the financing on behalf of the borrower, Austin-based developer LV Collective. Brian Hirsh and Jonah Sacks of Mesa Capital West’s Chicago office, alongside Russell Frahm from the firm’s New York office, originated the loan. Situated along Broad Street, Rambler Athens …
San Marcos, Texas — BWE has arranged a $23.5 million acquisition loan for The Edge, a 553-bed student housing property that serves students at Texas State University in San Marcos. The Edge is located less than a mile from campus and offers one-, two-, three- and four-bedroom floor plans across 173 units. Amenities include a fitness center, clubhouse, study areas and a basketball court. Chris Carroll and Max Miller of BWE arranged the financing through Chicago-based Byline Bank. The borrower, Campus Realty Advisors, plans to use a portion of the proceeds …
Waco, Texas — Seven Hills Realty Trust, an affiliate of Boston-based investment firm RMR Group, has provided an $18.5 million bridge loan for the refinancing of LL Sams, a 271-bed community that serves students at Baylor University in Waco. The building is adjacent to campus and offers units in one-, two-, three-, four- and five-bedroom floor plans. Amenities include a pool, fitness studio, resident clubhouse, package lockers and private study pods. JLL arranged the three-year loan on behalf of the borrower, California-based Shore to Shore Properties.
Raleigh, N.C. — The Preiss Co. has recapitalized a portfolio of five undisclosed student housing properties. The communities span 3,700 beds and serve students attending The University of Texas at Austin, North Carolina State University, Texas State University, The University of Florida and Indiana University. Details of the recapitalization were not released. As part of the recapitalization, all five properties will undergo renovations to shared amenity spaces. Planned upgrades include the addition of modern furniture, updated finishes and state-of-the-art fitness equipment. Several properties will also receive unit interior renovations including the …
Champaign, Ill. — Cushman & Wakefield has arranged limited partner (LP) equity financing for the development of 505 S 5th Street, a Class A student housing project in Champaign serving students attending the University of Illinois’ Urbana-Champaign campus. The project will be located adjacent to campus and in the heart of Campustown. The development site is fully entitled and shovel-ready, with groundbreaking slated for this month. Completion is anticipated ahead of the 2026-2027 academic school year. The community will feature 241 beds and amenities such as a fitness center, yoga …
Knoxville, Tenn. — Private equity investment firm Muinzer has partnered with Kayne Anderson Real Estate to recapitalize a two-property student housing portfolio near the University of Tennessee in Knoxville. The 1,356-bed portfolio, which includes The Heights of Knoxville and University Park, was fully occupied at the time of the transaction. Scott Clifton, Kevin Kazlow and Teddy Leatherman of JLL arranged the recapitalization. Los Angeles-based Muinzer originally acquired the two student housing properties in 2021 in a partnership with T2 Capital Management. Further details of the company’s recapitalization with Kayne Anderson …
San Marcos, Texas — Campus Realty Advisors has acquired The Edge, a 553-bed student housing property located near the Texas State University campus in San Marcos. The community offers a mix of one-, two-, three- and four-bedroom units alongside shared amenities including a fitness center, clubhouse and basketball court. Chris Carroll and Max Miller of BWE secured a $23.5 million financing for the acquisition and renovation of the property. Planned upgrades to the community include the addition of new flooring, cabinets and doors, as well as upgraded bathroom fixtures and improved …
