Webster Bank Provides $42.8 Million Refinance For Aptitude Development's 564-Bed Student Housing In Conway SC

The Pier Conway is a student housing complex located at 626 South Carolina Highway 544 in Conway, SC, featuring 564 beds dedicated to student occupancy. The property serves a demographic primarily consisting of students attending Coastal Carolina University, supporting its integrated development within the educational community.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $42,800,000
• Lender: Webster Bank
• Landlord: Aptitude Development
• Brokers: Morris Dabbah, Morris Betesh & Louis Halperin - Arrow Real Estate Advisors
• Loan Type: Refinance
• Date: 11/25/2025
• Market: Conway, SC

This refinancing transaction was facilitated by Arrow Real Estate Advisors, with Morris Betesh leading the efforts. The complex's consistent occupancy rates have contributed to its long-term financial stability, despite varying enrollment trends in the broader market. The refinancing follows a previous $46 million refinance for a separate property in Rochester, NY, showcasing strategic financial management by Aptitude Development.