L3 Campus & Aureon Partners Secure $53.7 Million Refinance For Daytona Beach Student Housing

The transaction involved a 210-unit, 636-bed student housing property located at 1100 Halifax Medical Center Drive in Daytona Beach, FL. The property, known as OnShore, has maintained occupancy above 98 percent since its opening in 2020. The loan involved in the transaction amounts to $53,700,000, and it is a refinance with a seven-year floating-rate loan that includes a four-year interest-only period. The lender for this transaction is Freddie Mac.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $53,700,000
• Loan Type: Refinance
• Loan Terms: 7-year floating-rate loan with a four-year interest-only period
• Lender: Freddie Mac
• Landlord: L3 Campus & Aureon Partners
• Brokers: Will Baker, Mike Shropshire, William Shell & Doug McDaniel - Walker & Dunlop; Austin Kinn - TSB Capital Advisors

L3 Campus and Aureon Partners secured the refinancing through Walker & Dunlop, which arranged the loan on behalf of the landlords. The brokers involved in this transaction include Will Baker, Mike Shropshire, William Shell, and Doug McDaniel from Walker & Dunlop, as well as Austin Kinn from TSB Capital Advisors.