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Liquidity Abounds for Student Housing Financing

As the industry continues to evolve and mature, so have the capital solutions that exist for the sector, which portends a bullish outlook for this recession-resilient product type for the next several years.

Aspen Houston Aspen Houston consists of 717 beds within two four-story buildings located at 4971 MLK Blvd.

HOUSTON—A $92 million three-year floating-rate loan recently went toward a three-property 1,653-bed student housing portfolio spread across assets in Texas, Iowa and South Carolina. The financing was secured through an institutional lender. Loan proceeds were used to refinance existing construction financing.

Aspen Houston consists of 717 beds within a pair of four-story wrap-style buildings located at 4971 Martin Luther King Blvd. in Houston, which serves the University of Houston. Aspen Ames is a 422-bed garden-style property located at 3306 Lincoln Way in Ames, IA, which serves Iowa State University. Aspen Conway is a 514-bed property totaling 116 cottage-style buildings located at 2251 US-501 East in Conway, SC, which serves Coastal Carolina University.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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