BridgeInvest Refinances $24M Student Housing Property In Huntsville, TX
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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
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- Location2257 South Sam Houston Avenue
- Loan Value$24,000,000
- Asset TypeStudent Housing
- Parties1 Broker, 1 Agency, 1 Lender
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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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