CBRE Arranges $75M for Student Housing
ByRALEIGH, NC—CBRE Capital Markets’ Debt & Structured Finance team has arranged a $75 million loan for the Stanhope Student Apartments, a five-story, 300-unit, 822-bed, mixed-use student housing facility located adjacent to North Carolina State University’s main campus in Raleigh.
Mark Fisher and Alex Furnary, of CBRE’s Midtown Manhattan office, along with David Meeseand Tom Kobus, of CBRE’s Pittsburgh office, facilitated the financing on behalf of the borrower.
CBRE secured a 20-year, fixed-rate, non-recourse loan from one of its correspondent lenders,AIG Investments. The loan was committed without any tenants in occupancy and closed with retail space still to-be-leased (half of the retail space is leased to CVS)…
CBRE Arranges $75M for Student Housing
