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Issue link: https://studenthousingbusiness.epubxp.com/i/783396
NE WS IN BRIEF January/February 2017 StudentHousingBusiness.com 14 CBRE ARRANGES $41 MILLION REFINANCING FOR 456-BED STUDENT HOUSING COMMUNITY IN CHICAGO Chicago — CBRE has arranged the $41 million refinancing of The Buckingham, a 456-bed student housing community located in down- town Chicago. The property offers a mix of studio, one-, two-, three- and four-bedroom fully furnished units with flat screen televisions and washers and dryers. Community amenities include a sky lounge, movie theater, fitness center, student lounge with a fireplace and pool table, bicycle storage, free printing center, private study rooms and coffee vending. Glenn Housman of CBRE secured the 10-year loan on behalf of the borrower, The Buckingham LLC, through the company's Fannie Mae delegated underwriting and servicing program. CAMPUS FIRST AWARDED MANAGEMENT OF 648-BED COMMUNITY NEAR SALISBURY UNIVERSITY Salisbury, Md. — Campus First Student Living has been awarded man- agement of University Orchard, a 648-bed community located near Salisbury University in Maryland. The property offers a mix of two- and four-bedroom fully furnished units with bed-to-bath parity. Community amenities include a resort-style swimming pool, outdoor spa, game room, clubhouse and volleyball and pickleball courts. The property is set to undergo $600,000 in renovations, to include the addition of a dog park, a large outdoor LED screen in the pool and terrace area, exterior and interior clubhouse renovations and an enhanced fitness center and study area. Aspen Heights – Fort Collins is located near the Colorado State University campus, and features amenities including a resort-style swimming pool and sand volleyball court. COASTAL RIDGE AWARDED MANAGEMENT OF 712-BED COMMUNITY NEAR COLORADO STATE Fort Collins, Colo. — Coastal Ridge Real Estate Partners has been awarded management of Aspen Heights – Fort Collins, a 712-bed student housing community located near Colorado State University. The property offers a mix of two-, three-, four- and five-bedroom apartments and townhomes with bed-to-bath parity. Community amenities include a resort-style swimming pool, movie theater, 24/7 fitness center and yoga studio, game room, sand volleyball court and study lounge.