Indiana student housing community refinanced

INDIANAPOLIS, IN – The Indianapolis office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has secured a refinancing for Campus Habitat 5 Apartments, (top right photo) a 53-unit student housing community on the campus of Vincennes University in Vincennes, Indiana.

Working on behalf of Campus Habitat, HFF associate director David Ross placed the 10-year, adjustable-rate loan with First Financial Corporation.

Based in New York City, Campus Habitat acquires, renovates and manages student housing communities throughout the United States.
Campus Habitat 5 Apartments is located at 201 West Saint Clair Place on 1.6 acres within the Vincennes University campus in southwestern Indiana. The fully-leased property has five buildings with 47 two-bedroom units and six six-bedroom townhomes averaging 719 square feet each.

“Campus Habitat 5 Apartments underwent extensive renovations in August 2008 including upgrading unit interiors, exteriors and common areas to provide the many modern amenities desired by students today,” said Ross. “This financing allows Campus Habitat to recognize the value created following their acquisition and repositioning of the asset.”


Contacts:
J. David Ross, HFF Associate Director, (317) 630 3191, dross@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing (713) 852-3500,krmurphy@hfflp.com