HFF arranges $134.6 million in Sharia-compliant equity and debt for six-property, multi-state student housing portfolio

  

University View, a 55-unit property
serving Florida Atlantic University
 in Boca Raton, FL

DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged the capital stack of a six-property student housing portfolio totaling 911 units with 2,059 beds in Alabama, Florida, Michigan, New York, Pennsylvania and Texas.

Ella Lofts, a 75-unit property serving Texas State University
 in San Marcos, TX

HFF structured the Sharia-compliant joint venture between Vie Management and a Middle Eastern asset manager.  In addition, HFF worked on behalf of the new partnership to secure a $75.385 million, 10-year, 65 percent LTV, interest-only loan.

The properties are:

 University Downs Apartments and Condos, a 222-unit property serving the University of Alabama in Tuscaloosa, Alabama;

University View, a 55-unit property serving Florida Atlantic University in Boca Raton, Florida; 

Claudio Sgobba

Hillcrest Oakwood Apartments, a 224-unit property serving Ferris State University in Big Rapids, Michigan;

Colonie Apartments, a 184-unit property serving the University at Buffalo in Amherst, New York;

Matthew Schoenfeldt

Southgate Apartments, a 151-unit property serving Penn State University in State College, Pennsylvania;

Ella Lofts, a 75-unit property serving Texas State University in San Marcos, Texas.

Scott Clifton

The HFF equity and debt placement team was led by London-based managing director Claudio Sgobba along with licensed local HFF teams in the respective markets, including managing director Matthew Schoenfeldt, a Michigan licensed real estate broker; director Scott Clifton; and senior global capital and equity placement analyst Hank Huang.

“Vie is the first and only lifestyle brand within student housing,” said Vie CEO Ari Rosenblum. 

“Our objective is to continue to produce technology-rich environments where students can stream and dream, socialize and exercise, all within our best-in-class amenity driven spaces. 

”These acquisitions are new canvases to us; places to create experiential living environments where students can watch live music, study at a coffee shop, or work out at the best gym in town all within the confines of the community in which they live.”

Henry (Hank) Huang

“We are extremely excited about our new partnership given it will allow us to create value within a defensible niche,” Rosenblum continued.  “With these new acquisitions, we have taken a big first step towards our collective goal of becoming the premier student housing company in the world.”

“It was a privilege to bring together two world-class investment firms as co-owners of this diverse, multi-state, 90-percent-occupied student housing portfolio,” Sgobba said.  “We look forward to assisting this new partnership in future transactions as they grow their holdings in the student housing sector.”

Holliday GP Corp. (“HFF”) is a Texas licensed real estate broker.

Harold (Ari) Rosenblum

Vie Management is a privately owned real estate investment company specializing in the financing, acquisition, development and management of student and multifamily housing in the United States.  

Headquartered in Miami, Florida, Vie has a successful track record of acquiring student and multifamily housing and, through its talented teams, creates a Vie lifestyle of learning, health, social interaction and opportunities for self-improvement for its residents.  

CONTACTS:

CLAUDIO SGOBBA

HFF Managing Director

+44 20 7317 3115

csgobba@hfflp.com

MATTHEW SCHOENFELDT

MI Lic. # 6504405163

HFF Managing Director

(312) 528-3650

mschoenfeldt@hfflp.com

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3403

ohennessey@hfflp.com