Varde Partners Provides $63M Loan For 244-Unit Student Housing Property In Hyattsville

The Vie Towers student housing property in Hyattsville, Maryland has secured a $63 million mortgage financing from Varde Partners. The property consists of 244 units and is owned by a venture of Safanad and Vie Management.

Summary of transaction details

• Property Type: Student Housing
• Transaction Amount: $63,000,000
• Address: 6515 Belcrest Road, Hyattsville, MD
• Market: Hyattsville, MD
• Owner: Kamal Bahamdan - Safanad, Derrick Milam & Ari Rosenblum - Vie Management
• Lender: Varde Partners
• Broker: JLL Capital Markets

Varde Partners has provided a significant mortgage financing of $63 million for the 244-unit Vie Towers student housing property located at 6515 Belcrest Road in Hyattsville, Maryland. The property, owned by Kamal Bahamdan of Safanad and Derrick Milam & Ari Rosenblum of Vie Management, has attracted the attention of Varde Partners as they see its potential for growth and profitability. This financing deal was facilitated by JLL Capital Markets, who acted as the broker in the transaction.