BridgeInvest Closes a $10.6 MM Refinance Loan in Tallahassee, FL
1st Priority Mortgage Loan
Loan Amount
$10,600,000
Property Type
Student Housing
Location
Tallahassee, FL
BridgeInvest is excited to announce the closing of a $10.6 million refinance loan that is senior secured by a 320-bed student housing property for Florida A&M University students. The 95% occupied property is part of FAMU’s off-campus housing supply, located just 0.6 miles from campus.
Transaction Highlights:
- Cash-neutral refinance
- Mark-to-market business plan
- Tertiary university with sub-10K students