S3 Capital Provides $131.5M Loan For 28-Story Student Housing Development By Edge Property Group

The property asset involved is a 28-story student housing complex located in Washington Heights, comprising 321 beds and a total area of 206,034 square feet. It was financed with a construction loan amounting to $131,500,000.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $131,500,000
• Lender: Robert Schwartz & Steven Jemal - S3 Capital
• Landlord: Edge Property Group
• Brokers: Max Herzog, Eric Toddy, Marko Kazanjian, Max Hulsh & Andrew Cohen - Institutional Property Advisors (IPA)
• Loan Type: Construction

The deal involved prominent figures in the real estate and finance sectors, including Robert Schwartz and Steven Jemal as the lenders. The institutional brokerage, Institutional Property Advisors, represented the landlords and played a key role in facilitating the transaction, ensuring collaboration among the involved parties.