Harrisonburg, Va. — Financial Federal Bank has provided a $38.7 million loan to refinance North 38 Apartments, a 228-unit student housing community near James Madison University (JMU) in Harrisonburg. The property was built in 2009 and offers 816 beds and fully furnished units featuring 55-inch TVs. Communal amenities include a pool, hammock gardens, car care center, sand volleyball court, computer lounge, fitness center, detached garage buildings and multiple dog parks. At the time of the transaction, the property was 94 percent occupied. The community is situated at 1190 Meridian Circle, two miles north of JMU. Rick Wood and Jon Van Hoozer of Financial Federal originated the 12-year loan with three years of interest-only payments, a 30-year amortization schedule and a fixed interest rate below 3.95 percent. The borrower was not disclosed.