Albany, N.Y. — KeyBank Real Estate Capital has secured a $29.4 million refinancing for Auden Albany Student Housing, a 322-bed community serving students attending the University at Albany — State University of New York. The fixed-rate, Fannie Mae loan is structured with a 12-year term and a 36-month, interest-only period. Erik Storz and Pete Rand of KeyBank structured the financing on behalf of the borrower, DMG Investments. The community offers units with bed-to-bath parity alongside shared amenities including a fitness center, game room, yoga studio and clubhouse.
New York City — DMG Investments has named Jeffrey Amengual COO. In his new role, Amengual will oversee all operations and lead the company’s undertakings to improve efficiency across the New York City-based enterprise. Amengual joined DMG Investments in 2017 and most recently held the position of senior vice president. Prior to joining DMG, Amengual worked as the director of construction at Largo Investments.
Spartanburg, S.C. — DMG Investments is set to break ground on Auden Upstate, a 480-bed student housing community located near the University of South Carolina Upstate campus in Spartanburg. The $28 million development will consist of seven, four-story buildings offering two-, three- and five-bedroom units. Shared amenities will include a fitness center, study room, resident lounge, gaming room and a swimming pool. Construction is scheduled for completion in August 2020.
Spartanburg, S.C. — Construction is underway on Auden Upstate, a 486-bed development by DMG Investments near the University of South Carolina Upstate campus in Spartanburg. The 211,000-square-foot community will offer two-, three-, four- and five-bedroom, fully furnished units with bed-to-bath parity. Shared amenities will include a resident lounge, fitness center, basketball court, volleyball court, yoga room, three study areas and a swimming pool. The property is scheduled for completion in fall 2020.
Houston, Texas — Renovations are currently underway on Auden Houston, a 306-bed student housing community located near the University of Houston and Texas Southern University. Owner DMG Investments recently rebranded the property, previously known as Savoy Apartments. Renovations to the community will include updated kitchens, interior design upgrades and an enhanced security network. The property offers furnished and unfurnished, one-, two-, three- and four-bedroom units. Shared amenities include a swimming pool, 24-hour fitness center, onsite parking and a clubhouse. Renovations are set for completion by the end of August.
Albany, N.Y. — DMG Investments has broken ground on a 322-bed student housing community located near the State University of New York at Albany campus in Albany.