TSB Capital Advisors Arranges Refinancing for VERVE Near Rutgers University

by Katie Sloan

New Brunswick, N.J. — TSB Capital Advisors has arranged a refinancing for VERVE, a 696-unit student housing community located near Rutgers University’s main campus in New Brunswick. The fixed-rate loan, which features a future funding component, was provided by an affiliate of QuadReal Property Group. VERVE is owned by a joint venture between The Scion Group and PGIM Real Estate. Constructed in 2020, the community offers single- and double-occupancy units in studio through five-bedroom configurations. Shared amenities include a state-of-the-art fitness center, private and group study lounges, gaming spaces, a private parking garage and indoor bike storage. The community also features ground-floor retail space. 

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