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The Prime Company Secures $111 Million Loan For 1,778-Bed Student Housing Portfolio Across Four States

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FINANCED
$111,000,000

Oklahoma

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Student Housing
Financed 03/14/2025
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FINANCED

The Prime Company Secures $111 Million Loan For 1,778-Bed Student Housing Portfolio Across Four States

312 West Elm Avenue, 1040 Y Street, 117 Southeast 27th Avenue & 200 West Norwich Avenue

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Student Housing
Financed 03/14/2025
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Summary

OKLAHOMA
Asset Type:Student Housing
Transaction Type:Loan

The transaction involves a student housing portfolio comprised of five properties with a total of 998 units and 1,778 beds. The properties are located in Stillwater, OK; Lincoln, NE; Minneapolis, MN; and Columbus, OH, emphasizing their strategic placement near key universities such as Oklahoma State, Nebraska, Minnesota, and Ohio State universities. This sizable asset has a total loan amount of $111 million, secured with fixed-rate financing from Apollo affiliates. Summary of transaction details: Property Type: Student Housing Transaction Amount: $111,000,000 Units: 998 Beds: 1,778 Landlord: Bryan Elsey, Chris Elsey & Zane Sweet - The Prime Company Date: 03/14/2025 The deal marks The Prime Company's largest financing to date, highlighting their commitment to expanding their footprint in the student housing market across multiple states. The key individuals involved in this transaction include Bryan Elsey, Chris Elsey, and Zane Sweet, representing The Prime Company as they navigate this significant financing arrangement.

Details

FINANCED
IMAGE: Chris Elsey, Bryan Elsey & Zane Sweet DATE: 03/14/2025 ADDRESS: 312 West Elm Avenue, 1040 Y Street, 117 Southeast 27th Avenue & 200 West Norwich Avenue MARKET: Stillwater, OK; Lincoln, NE; Minneapolis, MN; Columbus, OH ASSET TYPE: Student Housing ~ UNITS: 998 ` BEDS: 1,778 LANDLORD: Bryan Elsey, Chris Elsey & Zane Sweet - The Prime Company LOAN AMOUNT: $111,000,000 NOTE: The Prime Company secured $111 million in fixed-rate financing from Apollo affiliates for a five-property, 1,778-bed student housing portfolio across four states. The deal, TPC’s largest financing to date, includes properties near Oklahoma State, Nebraska, Minnesota, and Ohio State universities.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$111,000,000.00

Monthly NOI$740,000.00
Monthly Debt Service$701,595.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00