Riverside, Calif. — Positive Investments has received a $16.9 million refinancing for International Village, a 341-bed student housing community located on the University of California, Riverside campus.
Positive Investments acquired the property, which is subject to a ground lease agreement with regents of the University of California, in 2016. The community partners with the University of California, Riverside, to provide housing for students from around the world attending the university’s International Education programs. Capital One provided the Fannie Mae, fixed-rate loan, which features a 30-year amortization schedule. Andrew Kwok of Capital One originated the transaction. The property offers studio, loft, two-, three- and five-bedroom units. Shared amenities include a fitness center, music room with a piano, soccer field, bike rental, a basketball court, barbecue areas, study lounges and a TV lounge with billiards tables.