CBRE

Santa Barbara, Calif. — CBRE has arranged an $18.5 million loan for The Hive Isla Vista, a five-property student housing portfolio near the campus of University of California, Santa Barbara. Brad Wilmot of CBRE’s Los Angeles office secured the floating-rate loan with a three-year initial term on behalf of the borrower, Los Angeles-based M&A Real Estate Partners. The planned use of the funds was not disclosed. The portfolio totals 35,868 square feet and is comprised of five student housing properties, all within walking distance of the campus. Community amenities include fitness centers, gated access …

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Chico, Calif. — CBRE has arranged the sale of Campus Walk, a 174-bed student housing community serving California State University, Chico. NB Private Capital purchased the property from Dallas-based Fountain Residential Partners for an undisclosed price. Jaclyn Fitts, William Vonderfecht, Casey Schaefer and Marc Ross of CBRE arranged the transaction on behalf of the seller. The property offers shared amenities including a swimming pool, an outdoor movie screen and a fitness center. 

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Clemson, S.C. — CBRE has arranged the sale of Tiger Towne Village and Tiger Towne Farmhouses, two adjacent student housing communities serving students at Clemson University in South Carolina. The properties offer a total of 513 beds and shared amenities including a 24-hour fitness center, study lounge, walking trail, putting green, fire pit, bocce ball court and multiple hammock gardens. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Parker Yates, David Lansbury and Kevin Kempf of CBRE represented the undisclosed seller in the transaction. Chain Bridge Capital acquired the communities for an …

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Auburn, Ala. — CBRE has arranged the sale of The Connection at Auburn, a 900-bed student housing community located near Auburn University. The property is comprised of 13, three-story buildings offering two-, three- and four-bedroom units. Shared amenities include a 24-hour fitness center, resort-style swimming pools, a heated spa, game room, picnic areas, a sand volleyball court, computer lounge, clubroom, private study areas and a lighted basketball court. BCEG International Investment-US purchased the community for an undisclosed price. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Brett Kingman and Russ Oldham of …

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Lubbock, Texas — CBRE has arranged acquisition financing for Thrive in Lubbock, a 744-bed student housing community located near Texas Tech University. Benjamin Roelke and Ian Walker of CBRE secured the financing on behalf of a joint venture between TEXLA Housing Partners and a private equity real estate fund advised by Crow Holdings Capital. The five-year, 65 percent loan-to-cost, floating-rate loan was provided by East West Bank and features three years of interest-only payments along with an escrow for funding future improvements and no prepayment penalty. Renovations are planned for …

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Austin, Texas — CBRE has arranged acquisition financing for 21 Pearl, a 272-bed student housing community located a few blocks from the University of Texas at Austin’s West Campus neighborhood. Benjamin Roelke and Ian Walker of CBRE arranged the financing on behalf of TEXLA Housing Partners and a private equity real estate fund managed by Crow Holdings Capital. The new ownership plans to invest $1.35 million on a rebranding strategy that includes upgrading building exteriors, common areas and community amenities. The five-year, fixed-rate loan was provided by an undisclosed life …

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Tuscaloosa, Ala. — CBRE has arranged the sale of The Grand at Rum Creek, an 868-bed student housing community located near the University of Alabama in Tuscaloosa. The complex is comprised of 21 four-story apartment buildings. Shared amenities include a fitness center with a yoga studio and spin room; basketball and volleyball courts; and a resort-style swimming pool. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Brett Kingman and Russell Oldham of CBRE arranged the disposition of the property to Tailwind Group on behalf of the undisclosed seller. Terms of the transaction …

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