Walker & Dunlop Provides $380 Million Refinancing for 11-Property Student Housing Portfolio

by Katie Sloan

Chicago — Walker & Dunlop has provided a $380 million refinancing for a portfolio of 11 student housing properties. The communities are owned by a joint venture between Chicago-based The Scion Group and several undisclosed investors. Colin Coleman, Brendan Coleman and Will Baker of Walker & Dunlop structured the Fannie Mae credit facility, which will allow the borrowers to eliminate all floating-rate exposure from their original credit facility. The portfolio of properties includes Ion Tuscaloosa in Tuscaloosa (The University of Alabama); University House Fayetteville in Fayetteville (The University of Arkansas); Redpoint Gainesville in Gainesville (The University of Florida); Cambridge at Southern – The Pines in Statesboro (Georgia Southern University); University House Acadiana in Lafayette (University of Louisiana at Lafayette); Alight State College in State College (Penn State University); The Radian in Philadelphia (The University of Pennsylvania); Cottages of Clemson in Clemson (Clemson University); Redpoint Denton in Denton (University of North Texas); Redpoint San Marcos in San Marcos (Texas State University); and The Republic at Lubbock in Lubbock (Texas Tech University).

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