Austin, Texas — CBRE has arranged acquisition financing for 21 Pearl, a 272-bed student housing community located a few blocks from the University of Texas at Austin’s West Campus neighborhood. Benjamin Roelke and Ian Walker of CBRE arranged the financing on behalf of TEXLA Housing Partners and a private equity real estate fund managed by Crow Holdings Capital. The new ownership plans to invest $1.35 million on a rebranding strategy that includes upgrading building exteriors, common areas and community amenities. The five-year, fixed-rate loan was provided by an undisclosed life company and features full-term interest-only payments along with a flexible prepayment structure.
CBRE Arranges Acquisition Financing for 272-Bed Community Near the University of Texas at Austin