Financial Federal Arranges $18 Million Financing of Alabama Student Housing Property

by Scott Reid

Mobile, Ala. — The Memphis office of Financial Federal Bank has arranged the $18 million acquisition financing of The Campus Quarters Apartments in Mobile.

The 533-bed student housing property, located one block from the University of South Alabama campus, was built in 2012.

The property’s 165 units were 93 percent occupied at the time of closing. Rick Wood and Jon Van Hoozer of Financial Federal arranged the seven-year fixed-rate loan with 40 months of interest-only payments and a 30-year amortization schedule through their relationship with a national CMBS lender.

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