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Greg Young Of Colliers Mortgage Secures $34.6 Million Loan For 675-Bed Student Housing In Tyler

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FINANCED
$34,600,000

Texas

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Student Housing
Financed 11/14/2024
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Property Image
FINANCED

Greg Young Of Colliers Mortgage Secures $34.6 Million Loan For 675-Bed Student Housing In Tyler

3400 Varsity Drive

See Similar Deals
Student Housing
Financed 11/14/2024
the dealplayerscompscontact
Contact now

Summary

TEXAS
Asset Type:Student Housing
Transaction Type:Loan

The Foundry, a student housing asset located at 3400 Varsity Drive in Tyler, features 675 beds. The property is positioned near the University of Texas at Tyler and includes amenities such as a pool, clubhouse, and fitness center. The acquisition loan for this property totals $34,600,000.

Summary of transation details:

Greg Young, representing Colliers Mortgage, originated the acquisition loan, which includes provisions for capital improvements to enhance the property's existing features.

Players

Greg Young
Colliers
Greg Young
1 deal$34.6M volume(346) 547-4896
BROKER

Details

FINANCED
IMAGE: Greg Young DATE: 11/14/2024 ADDRESS: 3400 Varsity Drive MARKET: Tyler ASSET TYPE: Student Housing ~ BEDS: 675 BROKER: Greg Young - Colliers Mortgage LOAN AMOUNT: $34,600,000 LOAN TYPE: Acquisition NOTE: Colliers Mortgage arranged a $34.6 million acquisition loan for The Foundry, a 675-bed student housing property near the University of Texas at Tyler. The loan, originated by Greg Young, includes funding for capital improvements to the property, which features amenities such as a pool, clubhouse, and fitness center.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$34,600,000.00

Monthly NOI$230,666.67
Monthly Debt Service$218,695.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00