Tuscaloosa, Ala. — Walker & Dunlop has provided a refinancing for The Cottages at Lake Tamaha, a 1,300-bed student housing community located near the University of Alabama in Tuscaloosa. The financing was structured through Freddie Mac on behalf of the owner, Cardinal Group Investments, and features five years of interest-only payments and a seven-year loan term. Will Baker, Doug McDaniel and William Shell of Walker & Dunlop provided the financing. Tim Bradley of TSB Capital Advisors brokered the transaction. Further terms of the financing were undisclosed.
The Cottages at Tamaha offers two-, three-, four- and five-bedroom, cottage-style units. Shared amenities include a functional private lake; cyber cafe; clubhouse; game room; movie theater; tanning beds; an outdoor grilling area; fitness center; swimming pool; indoor golf range and putting green; and volleyball, basketball and tennis courts.