Square Mile Capital Originates $47.2 Million Acquisition Financing for Student Housing Community Near Syracuse University

Syracuse, N.Y. — Square Mile Capital has originated a $47.2 million loan for CREM Capital’s acquisition of 505 on Walnut, a 363-bed student housing community located near Syracuse University in New York. Trent Houchin of Newmark’s Austin, Texas, office brokered the transaction on behalf of CREM Capital. Michaels was the seller in the transaction. The community offers a mix of studio, one-, two-, three- and four-bedroom units alongside shared amenities including a 24-hour fitness center, computer lab, study pods, an 85-space parking garage, outdoor sky lounge, a community kitchen, pet washing stations and a coffee cafe.