Updated Mar 11, 2025
Global Student Housing Secures $28M Loan For 339-Bed Student Housing In College Station, Texas
404 Harvey Mitchell Pkwy S College Station, TX 77845, USA
$28,000,000
Units
199
Asset Type
Student Housing
Closing
Aug 7, 2023
About this deal
AI
Global Student Housing has obtained a $28 million loan for a student housing property located at 404 Harvey Mitchell Parkway South in College Station, Texas. The property, consisting of 199 units and 339 beds, is situated near Texas A&M University. It offers amenities such as a pool, gym, and study lounges.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $28,000,000
- Address: 404 Harvey Mitchell Parkway South
- Market: College Station
- Units: 199
- Beds: 339
The loan for this project has been provided by Arriba Capital. Nicholas Porter, representing Global Student Housing, is the landlord for the property.
Players
Texas Student Housing Market Snapshot
Boundary boundary · Student Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93