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BridgeInvest Refinances $24M Student Housing Property In Huntsville, TX

2257 South Sam Houston Avenue
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This Student Housing property located in TX received a loan of $24,000,000 over 1 year ago. The broker of the deal was Jayme Knight Nelson

A $24 million refinancing loan has been closed for a 502-bed, Class-A student housing property located at Sam Houston State University in Huntsville, TX. The property, delivered in 2018, is owned by Stonemont Financial Group and suffered setbacks due to the COVID-19 pandemic. The sponsor is working towards restoring the asset to its pre-pandemic levels. The loan proceeds will provide Stonemont with additional time to lease-up and stabilize cash flows.

Summary of transaction details

  • Property Type: Student Housing
  • Transaction Amount: $24,000,000
  • Market: Huntsville, TX
  • Lender: BridgeInvest - Alex Horn
  • Landlord: Stonemont Financial Group
  • Broker: Jayme Nelson
  • Loan Type: Refinance

BridgeInvest, represented by Alex Horn, served as the lender for this refinancing deal. Jayme Nelson, from an undisclosed agency, acted as the broker. The loan aims to support Stonemont Financial Group in recovering the asset to its pre-pandemic performance by providing additional time to lease-up and stabilize the property's cash flows.

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Deals
  • Location
    2257 South Sam Houston Avenue2257 South Sam Houston Avenue
  • Loan Value
    $24,000,000$24,000,000
  • Asset Type
    Student HousingStudent Housing
  • Parties
    1 Broker, 1 Agency, 1 Lender1 Broker, 1 Agency, 1 Lender

Agent

Jayme Knight Nelson

Jayme Knight Nelson

Deals2
Financed$63.7M

Agency

JLL

JLL

Agency
Deals5591
Volume$332.6B

BridgeInvest

BridgeInvest

Lender
Deals4
Volume$ 20.7B

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Deal Summary

LOAN IMAGE: Jayme Nelson & Alex Horn DATE: 08/30/2022 ADDRESS: 2257 Sam Houston Ave MARKET: Huntsville, TX ASSET TYPE: Student Housing LENDER: BridgeInvest - Alex Horn LANDLORD: Stonemont Financial Group BROKER: Jayme Nelson LOAN AMOUNT: $24,000,000 LOAN TYPE: Refinance NOTE FROM LENDER: BridgeInvest is excited to announce the recent closing of a $24 MM refinancing loan for a 502-bed, Class-A student housing property located at Sam Houston State University in Huntsville, TX. The property was delivered in 2018 with much fanfare, but ultimately suffered due to COVID-19. The sponsor, Stonemont Financial Group, is well on its way to recovering the asset to its pre-pandemic levels. The loan proceeds will be used to provide Stonemont additional time to lease-up and stabilize cash flows.

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2257 South Sam Houston Avenue

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