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| Arena District Student Housing Community, University of Oregon, Eugene, OR |
SAN DIEGO, CA, July 10, 2018 – Holliday Fenoglio
Fowler, L.P. (HFF) announces acquisition financing for Arena District, a
65-unit/244-bed, off-campus student housing community serving the University of
Oregon in Eugene, Oregon.
The HFF team worked on behalf of Cardinal Group to secure the
floating-rate loan through Freddie Mac’s CME Program. The securitized
loan will be serviced by HFF, a Freddie Mac Multifamily Approved
Seller/Servicer for Conventional Loans. Loan proceeds were used to
acquire the property.
Arena District is located at 2050 E. 15th Avenue
less than a quarter mile east of the University of Oregon campus, which serves
approximately 23,600 students.
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| Pat Burger |
Completed in 2014, the
property is a five-minute walk from both the Matthew Knight Arena and historic
Hayward Field and is approximately 1.5 miles east of downtown Eugene.
Arena District comprises mostly four-bedroom
units featuring modern finishes and green design components and community
amenities, including a fitness center, hot tub, private study room, 24-hour
study area and internet café, 24-hour multimedia lounge, clubroom with gaming
and pool table and outdoor courtyard with grilling station.
The LEED-certified
property was 97 percent leased for the 2017-2018 school year.
The HFF debt placement team representing the borrower included
senior director Pat Burger.
“HFF is pleased to have assisted Cardinal Group with its latest
acquisition as they continue to grow their national portfolio,” Burger
said. “They are a best-in-class operator with three properties already
under management in the market. With this acquisition, they now also own a
best-in-class asset serving UO.”
For more information,
please contact:
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3500
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