Square Mile Capital Originates $47.2 Million Acquisition Financing for Student Housing Community Near Syracuse University

Syracuse, N.Y. — Square Mile Capital has originated a $47.2 million loan for CREM Capital’s acquisition of 505 on Walnut, a 363-bed student housing community located near Syracuse University in New York. Trent Houchin of Newmark’s Austin, Texas, office brokered the transaction on behalf of CREM Capital. The community offers a mix of studio, one-, two-, three- and four-bedroom units alongside shared amenities including a 24-hour fitness center, computer lab, study pods, an 85-space parking garage, outdoor sky lounge, a community kitchen, pet washing stations and a coffee cafe.