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Champaign, Ill. — Alpha Alternative Investments has closed a $14 million CMBS loan for a student housing facility in Champaign near the University of Illinois.
Developed in 2013, the 72-unit, 194-bedroom multifamily property is located near the University of Illinois campus and targets undergraduate students.
Matthew Stearns, senior vice president of Alpha Alternative Investments, partnered with Alpha Managing Partner Anthony Longo to arrange the transaction.