Versity Investments Acquires Student Housing In Austin For $39M Loan
FINANCED
$39,000,000
Texas
See Similar DealsOther147,410 SF
Financed 07/27/2020
FINANCED
Versity Investments Acquires Student Housing In Austin For $39M Loan
2200 Nueces Street, Austin, TX, USA
See Similar DealsOther147,410 SF
Financed 07/27/2020
Summary
TEXAS
Asset Type:Other
Price Per Square Foot:$264
Total Square Footage:147,410 SF
Transaction Type:Loan
Versity Investments has recently secured a loan of $39,000,000 from Alliant Credit Union for the acquisition of a student housing property located at 2200 Nueces St in Austin. The property, consisting of 451 units, is situated in the bustling Austin market.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $39,000,000
- Address: 2200 Nueces St
- Market: Austin
- Units: 451
- Borrower: Versity Investments
- Lender: Alliant Credit Union - Paul Letourneau
- Broker: Josh Perew - Walker & Dunlop
Paul Letourneau from Alliant Credit Union represented the lender in the deal, while Josh Perew from Walker & Dunlop acted as the broker. This loan transaction marks a significant milestone for Versity Investments as they expand their portfolio in the student housing sector in Austin.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$39,000,000.00
Monthly NOI$260,000.00
Monthly Debt Service$246,506.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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