Student Housing Business

MAR-APR 2018

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

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Page 22 of 128

NE WS IN BRIEF March/April 2018 22 The perfect match for a fire and weather resistant building solution High Density Structual MgO board High-Performance Flashing Tape with Super Stick Technology ™ Distributed by CBRE ARRANGES SALE OF 179-UNIT COMMUNITY NEAR THE UNIVERSITY OF OREGON Eugene, Ore. — CBRE has arranged the sale of Chase Crossing, a 179-unit student housing community located near the University of Oregon cam- pus in Eugene. Horizon Realty Advisors purchased the asset from Chase Crossing LLC for an undisclosed price. Phil Oester, Joe Nydahl and Josh McDonald of CBRE brokered the transaction on behalf of the seller. Ben- jamin Roelke, also with CBRE, arranged $19.1 million in long-term fi- nancing on behalf of Horizon Realty Advisors for its HRA Opportunity Fund. The 10-year, fixed rate loan provided by CBRE through Freddie Mac featured an index rate lock at loan application and five years of in- terest-only payments. The property offers studio and one-bedroom units. CROWN ACQUISITIONS ACQUIRES 486-BED COMMUNITY NEAR THE UNIVERSITY OF CALIFORNIA, DAVIS Davis, Calif. — Crown Acquisitions Inc. has acquired College Square, a 486-bed student housing community located near the University of Cali- fornia, Davis, for $50.2 million. The acquisition was financed with a new Freddie Mac loan secured by Peter Benedetto and Aaron Moll of Berka- dia. The garden-style property offers shared amenities including three resort-style swimming pools with furnished sundecks, a fitness center, business center, study lounge, outdoor grills, picnic areas and two, 24- hour onsite laundry facilities. Planned capital improvements for the community include fully furnished and renovated units; an expanded fit- ness center with state-of-the-art equipment; the addition of a new study lounge, fire pits and pool amenities; and landscaping improvements. The property is also currently being rebranded. Chase Crossing offers studio and one-bedroom apartments near the University of Oregon in Eugene. Advertise in STUDENT HOUSING BUSINESS ® Rich Kelley | 914-468-0818 Andrew Johnson | 404-832-8262 Contact

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