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NE WS IN BRIEF MARCH/APRIL 2015 STUDENT HOUSING BUSINESS .COM 14 PRUDENTIAL PROVIDES $161 MILLION LOAN FOR NYU HOUSING COMPLEX New York — Prudential Mortgage Capital Company has provided a $161.3 million Freddie Mac loan to Corigin Real Estate Group to refnance 80 Lafayette Street, a student housing complex at New York University. Prudential Mortgage Capital is the com- mercial mortgage lending busi- ness of Prudential Financial Inc. Originally completed as an offce building in 1915, the 17-story, 262- unit property situated in New York City's Tribeca neighborhood was converted to student housing in 1999. It is the university's larg- est residence hall, housing 1,062 students and faculty, and operates year-round with near 100 percent occupancy. All of the residen- tial units are leased to NYU in a long-term master lease structure that is supported by the tenant's excellent credit. The property also includes an interior parking lot and approximately 5,700 square feet of ground foor retail space. KEYBANK PROVIDES $274 MILLION FOR PORTFOLIO Cleveland — KeyBank Real Estate Capital has provided a total of $274 million in Freddie Mac loans for a portfolio of seven student housing properties. Managed by a Florida-based multifamily invest- ment frm, the properties total 4,114 operating beds. Todd Goulet and Jeannie Johnson of KeyBank's Commercial Mortgage Group arranged the Capital Markets Execution fnancing, which was part of a $430 million KeyBank- originated portfolio, including the seven dedicated student hous- ing properties, two assisted liv- ing facilities and one market rate apartment complex. The seven properties comprise Luxe on West Call in Tallahassee, Florida; 700 on Washington in Minneapolis; Fuse Apartments located in West Lafayette, Indiana; Cottages of San Marcos in San Marcos, Texas; Lofts at City Center in Tuscaloosa, Alabama; and Next Apartments and The Cadence, both located in Tucson, Arizona. DORAN COS. SELLS FOUR STUDENT HOUSING BUILDINGS NEAR UNIVERSITY OF MINNESOTA Minneapolis — Doran Cos. has sold four student housing buildings near the University of Minnesota to an institutional investor, according to the Minneapolis Star- Tribune. The prices were not dis- closed. University Communities, based in Denver, represented the buyers. The sale involved Sydney Hall, the frst of six properties that Doran built or redeveloped near the university fve years ago. It also included Dinkydome, a former Bible college that Doran purchased and redeveloped. The other two properties involved in the transaction are 412 Lofts and The Edge on Oak. Doran is cur- rently developing and building the second Mill & Main complex in the Marcy-Holmes neighborhood. WALKER & DUNLOP ORIGINATES $27.5 MILLION LOAN FOR STUDENT HOUSING IN MISSOURI Columbia, Mo. — Walker & Dunlop Inc. has originated a $27.5 million loan for The Den, a student hous- ing apartment complex located in Columbia. The Den is a newly con- structed Class A, student-oriented apartment complex comprised of 158 garden style apartments, located less than two miles from the main campus of the University of Missouri. The property offers a mix of two- and four-bedroom fur- nished units, along with an exten- sive amenities package including a fully furnished living room and kitchen, a sand volleyball court, 24-hour computer center, hard- wood foors and resort-style pool. Construction on The Den was completed in July 2014, and the property has reached 97 percent occupancy. Bethesda, Maryland- based Senior Vice President & Managing Director Will Baker led the Walker & Dunlop team that structured the 10-year loan with fve years of interest only. PEAK CAMPUS MAKES SEVERAL EXECUTIVE PROMOTIONS Atlanta — Peak Campus Management has promoted sev- eral executive personnel in moves consistent with its ongoing invest- ment in the expansion of the com- pany's infrastructure and port- folio. Casey Petersen has been promoted to senior vice president. Petersen will continue to over- see new business development and relationship management efforts for Peak, as well as advise on on going company strategy. Jennifer Hill has been promoted to senior vice president and general counsel. Hill will continue to over- see human resources and com- pliance, as well as manage legal strategy for the company. Sandra Barfeld has been promoted to vice president of training and opera- tions support. In her new expand- ed role, Barfeld has absorbed the internal National Operations Specialist (NOPS) team, which will create synergies with train- ing and operations. Holly Reinhart Golebiowski has been promoted to regional vice president, assum- ing responsibility of a 12,000-bed portfolio for the western half of the United States. SIESTA ® … THE Cost Conscious Choice for Mattresses What do SIESTA ® users achieve? • Durability – Proven longevity due to high density foam cushioning. • Comfort – 100% open-cell foam cushioning. No "feeling the springs," squeaks, or bent wires. • Construction – Inverted side seams which minimizes heat retention and prevents bug penetration. Fluid resistant covering is easily wiped clean. • Safety – Fire-resistant neoprene cushioning layer to achieve superior fi re performance characteristics. • Options – Special sizes for athletes. Replacement covers to extend service life. DURABILITY … Including Mischievous Applications! Evaluate the SIESTA ® today... 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