HFF secures $21 million financing for student housing property in Charleston, SC

Timothy Joyce

CHICAGO, IL – HFF announced it has secured $21 million in financing for Campus Center Apartments, a 194-unit/419-bed student housing property serving the College of Charleston (COC) in Charleston, South Carolina.

                HFF worked on behalf of Harrison Street Real Estate Capital to place the 10-year, fixed-rate loan with Prudential Mortgage Capital Company. 

                 Completed in 2013, Campus Center Apartments is 100 percent occupied and is comprised of 194 units averaging 672 square feet each.  The property includes a 17,764-square-foot fitness center featuring state-of-the-art equipment and group fitness classes that is leased to the COC.  The property is located adjacent to campus at 50 George Street.

                The HFF team representing the borrower was led by managing directors Timothy Joyce and Stephen Skok.

Harrison Street Real Estate Capital was founded in 2005 and has approximately $7.3 billion in assets under management and has acquired or developed 400 assets including more than 50,000 student housing beds, more than 11,600 seniors housing/assisted living units, more than 4.8 million square feet of medical office space, more than 36,000 self-storage units, and more than 4,100 wet and dry boat storage units.

Stephen Skok

Prudential Mortgage Capital Company is a national full-service, commercial and multifamily mortgage finance business with more than $79 billion in assets under management and administration as of June 30, 2014. 

Leveraging a 135-year history of real estate finance, the company offers one of the most comprehensive lines of real estate finance products and originates loans for Fannie Mae DUS®, Freddie Mac Program Plus® and specialized affordable housing programs; FHA; Conduit; Prudential’s general account and proprietary balance sheet program; and other institutional investors.

 The company maintains a loan servicing portfolio of approximately $76.7 billion, as of June 30, 2014.

For more information, please visit http://www.prumortgagecapital.com.

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

Olivia Hennessey

Public Relations Coordinator

HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046

tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com

ohennessey@hfflp.com