Updated Oct 28, 2024
Synovus Provides $29M Acquisition Financing For Student Housing In Clemson, SC
1100 Cambridge Crk Ct Clemson, SC 29631, USA
$29,000,000
$157/SF
Building Size
184,204 SF
Asset Type
—
Closing
Aug 14, 2022
About this deal
AI
1100 Cambridge Creek Court in Clemson, SC, is a student housing property with a total square footage of 184,204. The property has 380 keys, making it a significant student housing asset in the market.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $29,000,000
- Lender: Synovus
- Landlord: Center Court Mass
- Brokers: Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Nick Scribani, Holden Witkoff & Marshall Dickson - Newmark
The loan for the acquisition of 1100 Cambridge Creek Court was provided by Synovus in the amount of $29,000,000. This financing arrangement facilitated the purchase of the student housing property.
On the Map
$29,000,000
$157/SF
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93