Wednesday, May 23, 2018

HFF announces $30.359 Million recapitalization of student housing property in Athens, GA



David B. Keller
INDIANAPOLIS, IN –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $30.359 million recapitalization of River Club Apartments and River Club Townhomes, two student housing communities operated as a single property, which serve the University of Georgia (UGA) in Athens, Georgia.  The properties total 366 units and 1,134 beds.

The HFF team worked on behalf of the borrower, an entity managed and controlled by The Scion Groupto secure the seven-year, floating-rate loan through Freddie Mac’s CME Program.  

The securitized loan replaced existing Fannie Mae financing, and will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

River Club Apartments comprises two- to four-bedroom units with private bathrooms, hardwood-style plank flooring and flat panel TVs.  The property is situated on 93 forested acres at 1005 Macon Highway along the Oconee River. 

Located adjacent to the Apartments, River Club Townhomes is a 32-acre, gated property, which offers three- and four-bedroom floorplans within two-story townhome units. 

Mark Sixour
Community amenities at both properties include swimming pools; volleyball, tennis and basketball courts; fitness centers; computer labs; car wash stations; private tanning salons; and on-site bus stops with service to UGA. 

The properties were 100 percent occupied for the 2017 to 2018 school year, and are within three miles of campus.

The HFF debt placement team representing the borrower included senior managing directors David B. Keller and Mark Sixour.

For more information, please contact:

OLIVIA N. HENNESSEY
HFF Public Relations Specialist
(713) 852-3500



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