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Fort Worth and Waco, Texas — CBRE has secured $38 million in permanent financing for the recapitalization of two student housing properties totaling 558 beds in Fort Worth and Waco.
Properties include Village East near Texas Christian University in Fort Worth, and 11th Street Flats near Baylor University in Waco. Both properties offer fully furnished units with off-street parking.
Benjamin Roelke of CBRE arranged a combination of long-term fixed and floating rate loans on behalf of Newsome Development. The financing was provided through CBRE’s Fannie Mae Delegated Underwriting and Servicing (DUS) program.