Phoenix — A CIM Group-managed fund has provided a $204 million construction loan to Medistar Corp., GMH Communities and a fund sponsored by CBRE Investment Management to finance the development of Central Station. The joint venture broke ground on the 1.1
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Tallahassee, Fla. — The Preiss Co. (TPCO) has recapitalized Quantum at West Call, a 752-bed student housing community located near Florida State University in Tallahassee. The property offers a mix of studio, one-, two-, three- and four-bedroom, fully furnished units
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Champaign, Ill. — JLL has arranged the sale of and acquisition financing for Illini Tower, a student housing community located near the University of Illinois Urbana-Champaign. The community offers 725 beds in 207 units. Scott Clifton and Stewart Hayes of
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Sunderland, Mass. — MassHousing has provided $41.2 million in permanent financing for North 116 Flats, a newly built residential community in Sunderland, located in the northern central part of the state. Of the property’s 150 units, 38 are reserved for households
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Denver — Cardinal Group Cos. has recapitalized an eight-property portfolio of student housing communities totaling 5,505 beds. The portfolio consists of mid-rise and garden-style properties located near Tier I universities. Prior to the recapitalization, the portfolio was held in a
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Oxford, Miss. — Greysteel has secured the refinancing of Wellington Place, a 154-bed student housing community located near the University of Mississippi in Oxford. Griffin Papaila and Daniel Hartnett of Greysteel placed the 10-year, fixed-rate financing through Freddie Mac on
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Philadelphia — Campus Apartments has received $402.6 million for the refinancing of a 19-property student housing portfolio and the acquisition of one student housing community, which collectively total 9,332 beds. The financing was provided by KeyBank and includes a non-recourse
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Rochester and Buffalo, N.Y. and Wilmington, N.C. — Berkadia has secured a preferred equity partner for the recapitalization of a 1,350-bed student housing portfolio owned by OC Ventures. The properties are located in Rochester and Buffalo, New York, as well
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Philadelphia — iBorrow provides $52 million financing for The Edge Student Village, a 798-bed student housing community located near Temple University in Philadelphia. The financing will be used for upgrades to the property, as well as strategic market repositioning. The
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Las Vegas — Ready Capital National Bridge team has closed on financing for the acquisition, conversion, renovation and stabilization of a 156-unit student housing property in the University District of Las Vegas. Upon acquisition, the undisclosed sponsor plans to reposition
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Allendale, Mich. — Northmarq has arranged a $4.2 million loan for the refinancing of Conifer Creek and Conifer Creek West Townhomes, two student housing properties serving Grand Valley State University in Allendale near Grand Rapids. The communities, constructed in 2006
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Orlando, Fla. — Berkadia has secured $71 million in bridge financing for UnionWest at Creative Village, a 640-bed student housing community located in Orlando. The high-rise property serves students attending the University of Central Florida (UCF) and Valencia College. Michael
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