CBRE Capital Markets Arranges $8 Million Refi of Student Housing Portfolio

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Last Updated ( 01/24/2012 17:00 )

DATE_FORMAT_LC2=Tuesday,January 24 2012 12:00:00 AM

CBRE Capital Markets Arranges $8 Million Refi of Student Housing Portfolio

1111 on High consists of 136 units.Tallahassee, Fla. — CBRE Capital Markets arranged an $8-million bridge loan refinance on behalf of TREO Partners for a two-property student housing portfolio in Tallahassee. Terms of the loan include an 18-month term with interest-only financing.

The student housing portfolio consists of two garden-style student apartment properties located just outside the Florida State University campus. The Villa Cortez and 1111 on High. The portfolio was 94.3 percent leased at the time the loan was closed.

Charles Foschini, Vice Chairman of CBRE’s Debt & Equity Finance and Institutional Group and team members, Christian R. Lee and Christopher Apone located in CBRE’s Miami office arranged the financing through Greystone Financial Group. The borrower, TREO Partners is based in Miami.

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