Berkadia Commercial Mortgage arranged the $13.35 million conduit loan.
Laramie, Wyo. — Berkadia Commercial Mortgage has originated a $13.35 million permanent for the refinancing of a student housing community located adjacent to the University of Wyoming in Laramie. Campus Habitat 15 was constructed in 2002 and is the only purpose-built student housing community in the market. It contains 481 beds in 120 units. Occupancy was 99 percent at the time of closing.
The loan carries a fixed interest rate, a 5-year term and a 3-year amortization schedule. An undisclosed conduit lender provided the financing to Campus Habitat 15 LLC, which purchased the property in 2008. Nick Cassino of Berkadia’s New York City office arranged the deal.
— Coleman Wood