HFF Arranges $92 Million Financing for Three-Property Student Housing Portfolio

by Katie Sloan

Austin, Texas — HFF has arranged $92 million in financing for a three-property, 1,653-bed student housing portfolio in Iowa, Texas and South Carolina. Doug Opalka, Casey Wenzel and Michael Johnson of HFF worked on behalf of Austin-based Aspen Heights and Safanad to secure the three-year, floating-rate loan through a large institutional lender. Loan proceeds were used to refinance existing construction financing. Properties include Aspen Ames, a 422-bed, garden-style property located near Iowa State University; Aspen Houston, a 717-bed community located near the University of Houston; and Aspen Conway, a 514-bed property totaling 116 cottage-style buildings near Coastal Carolina University. 

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