Louisville Property Refinanced

Louisville, Ky. — Grandbridge Real Estate Capital has secured a $40.5 million loan for a student housing property near the University of Louisville.

Louisville, Ky. — Grandbridge Real Estate Capital has secured $40.5 million in Freddie Mac funds for the refinancing of an off-campus student housing community serving students of the University of Louisville. The Province at University of Louisville is a less than 10-minute walk from Louisville's campus. Completed in 2009, the property contains nine three-story buildings on 22 acres. Units range from studios to four bedrooms. Amenities include a resort-style pool and clubhouse, a fitness center, media and gaming theaters, study/social areas, volleyball and basketball courts, and a game room.

The Columbus, Ohio, office of Grandbridge arranged the deal on behalf of the borrower, a joint venture between The Edwards Companies and Kayne Anderson Real Estate Advisors. The loan was provided under Freddie Mac's Capital Markets Execution program.

 

— Coleman Wood

 

 


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