Tuesday, June 30, 2015

Alpha Alternatives Closes $14 Million CMBS Student Housing Loan on University of Illinois campus in Champaign, IL

Student Housing Community at University of Illinois Campus, Champaign, IL

CHICAGO, IL, June 30, 2015 – Alpha Alternative Investments, a commercial real estate capital markets firm providing financing solutions nationwide, recently closed a $14 million CMBS loan for a student housing facility in Champaign, IL.

Anthony J. Longo
Developed in 2013, the 72-unit, 194-bedroom multifamily property is located in the heart of the University of Illinois campus and targets undergraduate students.

 “The project sponsor teamed up with Alpha Alternatives to originate the refinancing for a construction loan that was coming due, as well as recapitalize the asset,” says Anthony Longo, Managing Partner with Alpha Alternatives.

“Because of our strong relationships with multiple debt financing sources across the U.S., we were able to find a superior capital solution, including rate and proceeds compared with the client’s historical lender, and also facilitate the closing in just over 30 days,” adds Longo.

Matthew Stearns, Senior Vice President of Alpha Alternative Investments, partnered with Longo to close this transaction.

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

Stacey Corso

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