George Smith Partners Arranges $16.6 Million Bridge Loan For Student Housing In Chapel Hill

The asset involved in this transaction is a student housing community located at 600 Martin Luther King Jr. Boulevard in Chapel Hill, North Carolina. The property is subject to a long-term ground lease, necessitating a lender that is comfortable with a leasehold financing structure. The secured loan amount for this transaction is $16,600,000 and is categorized as a bridge loan.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $16,600,000
• Loan Type: Bridge
• Address: 600 Martin Luther King Jr Boulevard
• Market: Chapel Hill
• Landlord's Rep: Justin Hechler, Thomas Butler & Zach Scoggins - George Smith Partners

George Smith Partners arranged the financing on behalf of the sponsor, successfully sourcing a lender to provide a flexible bridge solution tailored to the property's leasehold structure. This financing offers ownership extended time as the asset continues to perform, supporting the broader business strategy including options for future sale and re-use of the property.