Student Housing Business

NOV-DEC 2017

Student Housing Business is the voice of the student housing industry.

Issue link: https://studenthousingbusiness.epubxp.com/i/913900

Contents of this Issue

Navigation

Page 22 of 130

NE WS IN BRIEF November/December 2017 StudentHousingBusiness.com 22 GRANDBRIDGE SECURES $43.5 MILLION FINANCING FOR MIXED-USE PROJECT NEAR OHIO STATE UNIVERSITY Columbus, Ohio — Grandbridge Real Estate Capital has secured a $43.5 million first mortgage loan for Highline at Nine Apartments, a 188,757-square-foot mixed-use development located near Ohio State University. The property offers one-, two-, three- and four-bedroom units alongside first-floor retail space occupied by Chumley's, Popeyes and Great Clips. Community amenities include a swimming pool, fitness cen- ter, TV lounge, clubhouse, sundeck and a business center. Ted Schmidt of Grandbridge secured the financing — which features a 20-year term and 30-year amortization schedule with an initial period of interest only — on behalf of the undisclosed borrower through a life insurance company. CBRE ARRANGES SALE OF 900-BED COMMUNITY NEAR AUBURN UNIVERSITY Auburn, Ala. — CBRE National Student Housing has arranged the sale of The Connection at Auburn, a 900-bed community located near Auburn University in Alabama. The garden-style complex is comprised of 14 buildings totaling 353,256 square feet. The property offers two-, three- and four-bedroom units. Community amenities include a 24-hour athletic club, resort-style swimming pools, a heated spa, game room with billiards, sand volleyball court, barbecue grills, picnic areas, private study rooms, a computer lounge and a clubroom with a kitchen and fireplace. University Partners purchased the asset from a private real estate fund managed by Crow Holdings Capital - Real Estate for an undisclosed price in an off-market transaction. Jaclyn Fitts, William Vonderfecht, Casey Schaefer and the Nashville Multifamily team at CBRE arranged the transaction. Ben Roelke, also of CBRE, secured acquisition financing on behalf of the buyer. Highline at Nine Apartments offers one-, two-, three- and four-bedroom units alongside first-floor retail space occupied by Chumley's, Popeyes and Great Clips near Ohio State University. Grandbridge Real Estate Capital recently secured a $43.5 million first mortgage loan for the property.

Articles in this issue

Links on this page

Archives of this issue

view archives of Student Housing Business - NOV-DEC 2017