Equity financing has been provided by a JV between Trinitas and HSRE.
Richmond, Va. — Trinitas Ventures LLC, a developer of student housing and mixed-use communities, has begun construction of an urban-infill, student housing community called The Collegiate in Richmond. The 269-unit, 690-bed property will serve students attending Virginia Commonwealth University (VCU) and has an anticipated opening date of August 2012. Located immediately north of VCU’s Monroe Park Campus in downtown Richmond, the community will include large unit designs and townhouse-style apartment features. Amenities will include a 6,274-square-foot clubhouse containing a recreation area, a spa and a fitness center as well as a courtyard including a basketball court, a sand volleyball court, a pool and a sundeck. Equity financing has been provided by a joint venture between Trinitas and Harrison Street Real Estate Capital (HSRE). The project represents the second infill development for the Trinitas/HSRE partnership and the 13th investment for the Harrison Street Real Estate Partners Fund III. Construction financing has been provided by PNC Bank, NA. This is the third construction loan in the past 4 years provided by PNC for Trinitas’ student housing developments.