Square Mile Capital Provides $47.2M Loan For 505 Walnut Ave Student Housing

The property at 505 Walnut Ave, Syracuse, NY, 13210 is a 363-bed student housing complex serving students at Syracuse University. The acquisition loan provided by Square Mile Capital amounts to $47.2 million. The property consists of 126 units with one-, two-, three-, and four-bedroom layouts. Amenities include a 24-hour fitness center, computer lab, study pods, outdoor sky lounge, community kitchen, pet washing stations, and a ground-floor café.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $47,200,000.00
• Address: 505 Walnut Ave, Syracuse, NY, 13210
• Market: Syracuse
• Borrower's Rep: Trent Houchin (Newmark)
• Lender: Square Mile Capital

Trent Houchin of Newmark represented the borrower, New York City-based CREM Capital, in securing the $47.2 million acquisition loan from Square Mile Capital for the student housing property located at 505 Walnut Ave. in Syracuse, NY.