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Knoxville, Tenn. — This is the second capital raise Ackman-Ziff has secured for this client in the past two years.
Ackman-Ziff has arranged senior debt for the ground-up development of Knox Ridge, a Class A, 86-unit (371 beds) luxury student housing townhome community in Knoxville. Paula Ingram, who recently relocated from the Ackman-Ziff office in Miami to Boston, was able to secure senior debt financing at 75 percent loan-to-cost for the developer in the amount of $14.4 million.