Updated Mar 27, 2026
Reid Marks, Nick Helfand, Cameron Koffman Of Hackberry Lane Secure $27.2 Million Loan For Student Housing In Virginia Tech
208 Wharton St Se, Blacksburg, Va 24060, 313-315 E Clay St, Blacksburg, Va 2406, 1201-1207 N Main Sr, Blacksburg, Va 24060, 701 South Main Street & 900 Glade Road
$27,200,000
Building Size
—
Asset Type
Student Housing
Closing
Mar 16, 2026
About this deal
AI
The transaction involves multiple properties, specifically designed for student housing in the Virginia Tech market located in Blacksburg, VA. The properties consist of addresses 208 Wharton Street Southeast, 313-315 E Clay Street, 1201-1207 North Main Street, 701 South Main Street, and 900 Glade Road. The loan amount secured for this acquisition is $27,200,000.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $27,200,000
- Lender: Webster Bank
- Sponsor: Reid Marks, Nick Helfand, Cameron Koffman - Hackberry Lane
- Advisor: Max Hulsh, Max Herzog, Marko Kazanjian & Andrew Cohen - Institutional Property Advisors
- Market: Virginia Tech - Blacksburg, VA
This transaction includes involvement from several key individuals and companies who played vital roles. Reid Marks, Nick Helfand, and Cameron Koffman represent the sponsor Hackberry Lane, while Max Hulsh, Max Herzog, Marko Kazanjian, and Andrew Cohen serve as advisors through Institutional Property Advisors, contributing their expertise to this acquisition deal.
On the Map
$27,200,000
Student Housing
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Players
Blacksburg 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
0.58%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93