San Antonio, Texas — TSB Capital Advisors has secured acquisition financing for Hill Country Place, a 696-bed student housing community located near the University of Texas at San Antonio.
The borrower is a joint venture between University Student Living and Harrison Street Real Estate Capital. The seven-year, floating-rate loan was provided by Freddie Mac through Walker & Dunlop. The garden-style property offers one-, two- and four-bedroom units with amenities including a sand volleyball court, pool, hot tub, fitness center, game room, hike and bike trail and fire pit. The joint venture plans to renovate the community, with anticipated refreshments to include upgrades to the kitchens, bathrooms, furniture packages and shared amenity spaces.