Coastal Ridge Recapitalizes Nine20 Student Housing In Tempe With $130M Loan

Nine20, a 775-bed student housing community located at 920 South Terrace Road in Tempe, AZ, has secured a $130 million recapitalization. The property is situated near the Arizona State University campus, making it an ideal accommodation option for students.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $130,000,000
• Address: 920 South Terrace Road, Tempe, AZ
• Market: Tempe, AZ
• Bed: 775

The recapitalization loan was secured by Coastal Ridge, in partnership with Virtus Real Estate Capital. Coastal Ridge, led by landlord Patrick McBride, played a key role in obtaining the financing for Nine20. This transaction will enable the student housing community to continue providing quality living spaces for college students near the thriving Arizona State University campus.