Updated Nov 10, 2026
Tyler Figley Of Affinius Capital Originates $100.3M Construction Loan For Atmosphere Pittsburgh
217 Halket Street
$100,300,000
Units
326
Asset Type
Development Site
Closing
Nov 6, 2026
About this deal
AI
The asset involved in the transaction is a development site located at 217 Halket Street, Pittsburgh, PA. The site is designated for the construction of Atmosphere Pittsburgh, a student housing property that will accommodate 672 beds across 326 units, including 34 affordable units. The loan amount for this construction project is $100,300,000, and it is scheduled for completion in July 2028, ahead of the 2028-2029 academic year.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $100,300,000
- Lender: Tyler Figley - Affinius Capital
- Landlord: Barry Sternlicht - Starwood Capital Group
- Landlord: Loren King - Trinitas Ventures
The loan was originated by Affinius Capital to a joint venture between Starwood Capital Group and Trinitas Ventures, focusing on the development of a significant student housing project in Pittsburgh's Oakland neighborhood. This collaboration aims to address the demand for housing in the area.
On the Map
$100,300,000
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93