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| 71-Building Student Housing Portfolio, Lehigh University, Bethlehem, PA |
PHILADELPHIA, PA –– Holliday Fenoglio
Fowler, L.P. (HFF) announces $19.454 million in acquisition financing for a
71-building/383-bed, scattered-site student housing portfolio at Lehigh
University in Bethlehem, Pennsylvania.
The HFF team worked exclusively on behalf
of the borrower, a private investment vehicle managed by Hong Kong-based Beacon
Assets, to arrange the five-year, fixed-rate acquisition loan through
Natixis.
HFF’s investment advisory team arranged the sale of the
portfolio to the borrower, details of which were recently released in a
separate announcement.
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| James Conley |
The 71 properties within the portfolio
have prime ‘walk to campus’ locations and convenient access to nightlife and
retail. The portfolio achieved close to 99 percent occupancy during the
last two academic years amidst strong year-over-year rent growth.
Lehigh
University has an enrollment of more than 7,000 with growth of 25 percent
expected during the next seven years.
The HFF debt placement team representing
the borrower included managing director James Conley.
For more information,
please contact:
OLIVIA HENNESSEY
HFF Public Relations Specialist
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