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ACRES Capital Provides $26.3 Million Loan For Acquisition Of Aberdeen Apartments In Madison WI

Property Image
FINANCED
$26,300,000

Wisconsin

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Student Housing69,033 SF
Financed 01/23/2025
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Property Image
FINANCED

ACRES Capital Provides $26.3 Million Loan For Acquisition Of Aberdeen Apartments In Madison WI

437 West Gorham Street

See Similar Deals
Student Housing69,033 SF
Financed 01/23/2025
the dealplayerscompscontact
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Summary

WISCONSIN
Asset Type:Student Housing
Price Per Square Foot:$381
Total Square Footage:69,033 SF
Transaction Type:Loan

The property asset involved in this transaction is Aberdeen Apartments, a 12-story student housing development located at 437 West Gorham Street in Madison, WI. The property features a net rentable area of 69,033 square feet and comprises 77 units designed to accommodate 224 beds. Additionally, the property includes two commercial suites, enhancing its utility for student residents.

Summary of transaction details:

  • Property Type: Student Housing
  • Transaction Amount: $26,300,000
  • Address: 437 West Gorham Street
  • Market: Madison, WI
  • Asset Size: 69,033 square feet
  • Units: 77
  • Lender: ACRES Capital

ACRES Capital LLC is the lender that provided the loan for this acquisition, focusing on the financing aspect of the transaction. This deal is significant as it showcases ACRES Capital's involvement in funding student housing in close proximity to the University of Wisconsin-Madison, indicating a strategic investment in a market with a strong demand for student accommodations.

Players

ACRES Capital
ACRES Capital
LENDER

Details

FINANCED
IMAGE: 01/23/2025 ADDRESS: 437 West Gorham Street MARKET: Madison, WI ASSET TYPE: Student Housing ~ SF: 69,033 ~ UNITS: 77 LENDER: ACRES Capital LOAN AMOUNT: $26,300,000 NOTE: ACRES Capital LLC has provided a $26.3 million loan for the acquisition of Aberdeen Apartments, a 12-story student housing property near the University of Wisconsin-Madison. The building includes 224 beds, 77 units, and two commercial suites within a total net rentable area of 69,033 square feet.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$26,300,000.00

Monthly NOI$175,333.33
Monthly Debt Service$166,233.89
Change in Cash Flow$0.00
Refinance Proceeds$0.00