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| Aspen Ames, a 422-bed, garden-style property at 3306 Lincoln Way, Ames, Iowa, which serves Iowa State University |
AUSTIN, TX –– Holliday Fenoglio Fowler, L.P. (HFF)
announced it has arranged $92 million in financing for a three-property,
1,653-bed student housing portfolio in Iowa, Texas and South Carolina.
HFF worked on behalf of Aspen Heights and Safanad to secure the
three-year, floating-rate loan through a large institutional lender. Loan
proceeds were used to refinance existing construction financing.
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Aspen Houston consists of 717 beds within two four-story, wrap-style buildings at 4971 Martin Luther King Boulevard in Houston, TX, which serves the University of Houston.
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| Aspen Conway is a 514-bed property totaling 116 cottage-style buildings at 2251 US-501 East in Conway, SC, which serves Coastal Carolina University |
Aspen Ames is a 422-bed, garden-style property located
at 3306 Lincoln Way in Ames, Iowa, which serves Iowa State University.
Aspen Houston consists of 717 beds within two four-story,
wrap-style buildings located at 4971 Martin Luther King Boulevard in Houston,
Texas, which serves the University of Houston.
Aspen Conway is a 514-bed property
totaling 116 cottage-style buildings located at 2251 US-501 East in Conway,
South Carolina, which serves Coastal Carolina University.
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| Doug Opalka |
The HFF debt placement team was led by senior managing director Doug
Opalka, senior director Casey Wenzel and director Michael Johnson.
“Aspen Heights and Safanad are
one of the premier student housing owner/developers in the United States, and
this portfolio presents a significant opportunity for value creation for the
partnership,” Opalka said. “This was a phenomenal result for all
involved.”
About Aspen Heights
Founded in 2006, Austin-based Aspen Heights has developed 36
conventional multifamily, student housing and assisted living properties,
totaling more than $1.5 billion in value.
The company builds,
leases and manages its own projects and also provides third-party leasing and
management services. It is a mainstay in the top 10 lists of student
housing development companies.
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| Casey Wenzel |
For more
information, visit: www.ahpliving.com.
About Safanad
Safanad is a global principal investment firm founded in 2009 with its
main presence in New York and offices in London and Dubai.
The firm creates
sustainable value by pursuing opportunities underpinned by long-term social and
economic insights and clear public sector policies and plans.
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| Michael Johnson |
As a principal investor, Safanad utilizes its capital, expertise and exceptional management partners to preserve and grow wealth for the firm and its global private and institutional clients.
To date,
Safanad has successfully executed $10 billion of total acquisition value in the
U.S. and Europe across sectors, including healthcare, education, student
housing, suburban offices, automotive supply chain and data
centers.
CONTACTS:
DOUG OPALKA
HFF Senior Managing Director
(512) 532-1900
OLIVIA HENNESSEY
HFF Public Relations Specialist
(713) 852-3403
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