CBRE Arranges Sale of 900-Bed Community Near Auburn University

Auburn, Ala. — CBRE has arranged the sale of The Connection at Auburn, a 900-bed student housing community located near Auburn University. The property is comprised of 13, three-story buildings offering two-, three- and four-bedroom units. Shared amenities include a 24-hour fitness center, resort-style swimming pools, a heated spa, game room, picnic areas, a sand volleyball court, computer lounge, clubroom, private study areas and a lighted basketball court. BCEG International Investment-US purchased the community for an undisclosed price. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Brett Kingman and Russ Oldham of CBRE arranged the transaction on behalf of the undisclosed seller. Ben Roelke and Ian Walker of CBRE Debt & Structured Finance secured acquisition financing on behalf of the buyer. The 10-year, fixed rate loan was originated by CBRE through Freddie Mac’s Green Program and featured a 3.66 percent interest rate and five years of interest-only payments.