Prospera Growth Fund Secures $96.7M Refinance For Axis Luxury Living Student Housing In Orem, UT

Prospera Growth Fund has secured a $96.7 million financing package to refinance its Axis Luxury Living project in Orem, Utah. The project, located at 1435 West 800 South, consists of 1,044 beds and is a student housing asset. The loan amount is $96.7 million and the loan type is a refinance.

Summary of transaction details

• Property Type: Student Housing
• Transaction Amount: $96,700,000
• Address: 1435 West 800 South, Orem, UT
• Market: Orem, UT
• Lender: Richard Gorsky - CenterSquare Investment Management, Gregory Stevens - RCG Longview Company & Walker & Dunlop
• Landlord: Sean Clark - Prospera Growth Fund
• Brokers: David Pascale & Evan Kinne - George Smith Partners

The financing package includes a $70.7 million Freddie Mac-backed loan from Walker & Dunlop, along with additional financing from other lenders. This transaction allows Prospera Growth Fund to refinance its Axis Luxury Living project, providing financial stability and opportunities for future growth.