Black Bear Capital Partners ("BBCP") Facilitates $7.65M Refinance for Athens Student Housing Asset.
148 Old Will Hunter Road
$7,650,000
$148/SF
Building Size
51,380 SF
Asset Type
Student Housing
Closing
Feb 13, 2025
AI
The property involved in this transaction is a 154-bed student housing asset located at 148 Old Will Hunter Road in Athens, GA. It spans a total of 51,380 square feet and consists of 54 units. The transaction was a refinance loan amounting to $7,650,000.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $7,650,000
- Loan Type: Refinance
- Loan Terms: 1-year, floating rate loan with full term interest-only at 70% LTV
- Lender: T2 Capital Management
- Brokers: Matthew Stearns, Michael Bernstein & Zach Lutwak-Fitzgerald - Black Bear Capital Partners
The key individuals involved in this transaction are Matthew Stearns, Michael Bernstein, and Zach Lutwak-Fitzgerald, all representing Black Bear Capital Partners in the deal. Their role was instrumental in facilitating the refinance for the student housing property.
Players
Athens Student Housing Market Snapshot
Boundary boundary · Student Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.07%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93