Colliers Closes $9.1 Million Loan for Student Housing Property in Philadelphia

by Katie Sloan

Philadelphia — Colliers International has arranged $9.1 million in financing for Wister Court, a student housing property located in Philadelphia.

The seven-year loan features a fixed rate and a 30-year amortization schedule. Serving students at La Salle University, the newly-built property features 49 apartments totaling 206 beds. At the time of closing, the property was 50 percent occupied. Kris Wood, John Banas, Chad Levitt, Tim Hoyt and Martin Duval of Colliers arranged the financing. The name of the borrower was not released.

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