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Cameron Koffman Reid Marks And Nick Helfand Of Havenly Ventures Acquire Student Housing Loan For $17M

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FINANCED
$17,000,000
Andrew Cohen
Max Herzog
+ 1

Michigan

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Student Housing66,700 SF
Financed 09/10/2024
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FINANCED

Cameron Koffman Reid Marks And Nick Helfand Of Havenly Ventures Acquire Student Housing Loan For $17M

1700 Geddes Avenue

See Similar Deals
Student Housing66,700 SF
Financed 09/10/2024
Andrew Cohen
Max Herzog
+ 1
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Summary

MICHIGAN
Asset Type:Student Housing
Price Per Square Foot:$254
Total Square Footage:66,700 SF
Transaction Type:Loan

The property asset involved in the transaction is located at 1700 Geddes Avenue in the University of Michigan - Ann Arbor market. It is classified as student housing and encompasses a total square footage of 66,700. The acquisition loan for the property amounts to $17,000,000, provided by A10 Capital.

Summary of transaction details:

The deal involves key individuals and companies, with sponsorship from Cameron Koffman, Reid Marks, and Nick Helfand of Havenly Ventures. Institutional Property Advisors (IPA) represented the transaction through their brokers, Max Hulsh, Max Herzog, Marko Kazanjian, and Andrew Cohen, contributing their expertise to the acquisition process.

Players

Marko Kazanjian
71 deals$5.4B volume
BROKER

Max Herzog
Institutional Property Advisors
80 deals$5.4B volume(212) 430-5165
BROKER

Andrew Cohen
Institutional Property Advisors
43 deals$3B volume
BROKER

Maxwell (Max) Hulsh
Institutional Property Advisors
32 deals$2.8B volume(646) 549-3692
BROKER

A10 Capital
LENDER

Details

FINANCED
IMAGE: Cameron Koffman, Reid Marks, Nick Helfand, Max Hulsh, Max Herzog, Marko Kazanjian & Andrew Cohen DATE: 09/10/2024 ADDRESS: 1700 Geddes Avenue MARKET: University of Michigan - Ann Arbor ASSET TYPE: Student Housing ~ SF: 66,700 LENDER: A10 Capital (@A10Capital) SPONSOR: Cameron Koffman (@Cameron_Koffman), Reid Marks (@ReidMarks) & Nick Helfand (@NickHelfand) - Havenly Ventures (@LiveHavenly) BROKERS: Max Hulsh (@MaxHulsh), Max Herzog, Marko Kazanjian (@MarkoKaz) & Andrew Cohen (@The_Andrew_Cohen) - Institutional Property Advisors (IPA) LOAN AMOUNT: $17,000,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$17,000,000.00

Monthly NOI$113,333.33
Monthly Debt Service$107,451.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00