CHICAGO, IL – HFF announced today that it has arranged $21.5
million in financing for Stadium Village
Flats (top left photo), a 120-unit, 235-bed, Class A, purpose-built student
housing community serving the University of Minnesota in Minneapolis,
Minnesota.
HFF
worked on behalf of Harrison Street Real Estate Capital, LLC to secure the
10-year, fixed-rate acquisition loan through Freddie Mac’s (Federal Home Loan
Mortgage Corporation) CME Program. The
securitized loan will be serviced by HFF through its Freddie Mac Program Plus®
Seller/Servicer program.
Stadium Village Flats is located adjacent to the University
of Minnesota’s main campus in the Stadium Village neighborhood at 850
Washington Avenue Southeast.
The newly completed property is 100 percent
resident-occupied and includes a climate-controlled underground parking garage
as well as 19,175 square feet of ground floor retail space, which is 100
percent leased to CVS, Noodles & Company and Dino’s Gyros.
Community amenities
include fully furnished units, state-of-the-art theater room, 24-hour fitness
center, yoga studio, computer lab, gaming center and penthouse-level sky
lounge.
The HFF team representing the borrower was led by managing
directors Timothy Joyce (lower right photo)and Stephen Skok.
For a complete copy
of the company’s news release, please contact:
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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