FINANCED
Colasacoo Real Estate Group Refinances 179-Unit Student Housing Complex For $8.3M
215 Cornish Drive
Student Housing
104,020 SF
104,020 SF
Financed 1 year ago
Summary
Loan
PENNSYLVANIA
Student Housing
104,020 sqft
The 179-unit student housing complex located at 215 Cornish Drive in Slippery Rock, PA has recently undergone a refinancing transaction. The property, owned by Colasacoo Real Estate Group, offers a total area of 104,020 square feet and consists of student housing units.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $8,300,000
- Market: Slippery Rock, PA
- Units: 179
- Square Footage: 104,020
The refinancing deal was facilitated by Brandon Harris from BlackBear Capital Partners, who represented the borrower in this transaction. The loan, provided by a balance sheet lender, amounted to $8,300,000. The loan terms include a 5-year fixed rate at 4.50%, with twelve months of interest-only payments and a 30-year amortization schedule. Notably, there is no prepayment penalty associated with this loan.
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Details
FINANCED
IMAGE: Brandon Harris
DATE: 07/15/2022
ADDRESS: 215 Cornish Drive
MARKET: Slippery Rock, PA
ASSET TYPE: Student Housing ~ UNITS: 179 ~ SF: 104,020
LANDLORD: Colasacoo Real Estate Group
BROKER: Brandon Harris - BlackBear Capital Partners (@BlackBearCapitalPartners)
LOAN AMOUNT: $8,300,000
LOAN TYPE: Refinance
LOAN TERMS: The 179-unit student housing complex was refinanced via a 5-year fixed rate loan at 4.50%, and features twelve (12) months of interest only payments, followed by a 30 year amortization, and no prepayment penalty. The financing was provided by a balance sheet lender.View on map
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Address215 Cornish Drive
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