Thursday, April 4, 2013

HFF arranges construction financing and joint venture equity for a $44 million student housing development at the University of Minnesota

Metro Park East at University of Minnesota
Minneapolis, MN
DALLAS, TX – HFF announced today that it has arranged construction financing along with joint venture equity for the development of Metro Park East, a 194-unit, 551-bed, campus-adjacent student housing project at the University of Minnesota – Twin Cities in Minneapolis, Minnesota. 

HFF’s Adam Herrin worked on behalf of the developer, Fountain Residential Partners, LLC, to secure the $29.5 million construction loan through American Bank of Texas.  In addition, HFF assisted in securing $11.56 million in joint venture equity with an institutional capital partner.

Adam F. Herrin
Metro Park East is located at 2635 Southeast 4th Street in the Stadium Village neighborhood directly adjacent to the East Bank campus of the university. 

Due for completion for fall semester 2014 occupancy, the project will be built to LEED Silver standards and will include one-, two-, three- and four-bedroom apartment homes. 

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 |

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