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The Preiss Co And Crow Holdings Capital Acquire 972-Bed Student Housing Community For $47.5M
FINANCED
$47,500,009
Missouri
See Similar DealsStudent Housing
Financed 10/24/2024
FINANCED
The Preiss Co And Crow Holdings Capital Acquire 972-Bed Student Housing Community For $47.5M
3600 Aspen Heights Parkway
See Similar DealsStudent Housing
Financed 10/24/2024
Summary
MISSOURI
Asset Type:Student Housing
Transaction Type:Loan
The property involved in this transaction is a student housing community located at 3600 Aspen Heights Parkway, Columbia, MO, featuring 318 units. The joint venture has acquired Elevate 231, which encompasses a total of 972 beds, intended for a rebranding project as The Collective at Columbia.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $47,500,009
- Loan Type: Acquisition
- Landlord: The Preiss Co & Crow Holdings Capital
- Brokers: Benjamin "Ben" Roelke & Ian Walker - Newmark
The acquisition marks a strategic collaboration between The Preiss Co. and a Crow Holdings Capital-advised private equity fund, reinforcing their commitment to enhancing student living experiences in proximity to the University of Missouri.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$47,500,009.00
Monthly NOI$316,666.73
Monthly Debt Service$300,232.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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