Louisville, Ky. — Grandbridge Real Estate Capital has secured $40.5 million in Freddie Mac funds for the refinancing of an off-campus student housing community serving students of the University of Louisville. The Province at University of Louisville is a less than 10-minute walk from Louisville’s campus. Completed in 2009, the property contains nine three-story buildings on 22 acres. Units range from studios to four bedrooms. Amenities include a resort-style pool and clubhouse, a fitness center, media and gaming theaters, study/social areas, volleyball and basketball courts, and a game room.
The Columbus, Ohio, office of Grandbridge arranged the deal on behalf of the borrower, a joint venture between The Edwards Companies and Kayne Anderson Real Estate Advisors. The loan was provided under Freddie Mac’s Capital Markets Execution program.
— Coleman Wood