Eastman Companies Secures $16M Loan For Student Housing Redevelopment Near Coastal Carolina University | 110 Chanticleer Village Drive | Knighthead Funding | Student Housing | Loan

Summary

Loan

SOUTH CAROLINA

Student Housing

Eastman Companies has obtained a $16 million loan to convert a 437-unit student housing property near Coastal Carolina University into a multifamily property. The redevelopment will include 149 units and is aimed at meeting the demand for multifamily housing in the area.

Summary of transaction details

Property Type: Student Housing
Transaction Amount: $16,000,000
Units: 437
Address: 110 Chanticleer Village Drive
Market: Myrtle Beach

Knighthead Funding, represented by Brian Sullivan, provided the $16 million loan for the project. The landlord in this deal is Eastman Companies, represented by Zach Schofel. This loan is an acquisition loan, enabling Eastman Companies to convert the student housing property into a multifamily property near Coastal Carolina University.

Players

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1

Lenders
1

Knighthead Funding

Details

Deal Summary

FINANCED

IMAGE: Brian Sullivan DATE: 07/11/2023 ADDRESS: 110 Chanticleer Village Drive MARKET: Myrtle Beach ASSET TYPE: Student Housing ~ UNITS: 437 LENDER: Knighthead Funding - Brian Sullivan LANDLORD: Eastman Companies - Zach Schofel LOAN AMOUNT: $16,000,000 LOAN TYPE: Acquisition Loan NOTE: Eastman Companies has obtained a $16 million loan to convert a 437-unit student housing property near Coastal Carolina University into a multifamily property. The redevelopment will include 149 units and is aimed at meeting the demand for multifamily housing in the area. Knighthead Funding provided the loan for the project.

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Address110 Chanticleer Village Drive

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