February 5, 2017
CBRE Capital Markets’ Debt & Structured Finance, working on behalf of Lawrence, KS-based Newsome Development, arranged $38 million in permanent financing for two student housing properties serving Texas Christian University in Fort Worth, TX; and Baylor University in Waco, TX. The financing, placed by CBRE’s Benjamin Roelke, consisted of long-term fixed- and floating-rate loans provided through the Fannie Mae Delegated Underwriting and Servicing (DUS) program.
Village East, at 2737 Merida Ave. in Fort Worth has 117 units and 325 beds. The asset is in a neighborhood adjacent to the TCU campus. 11th Street Flats, in Waco, is three blocks south of the Baylor Campus, and has furnished units, controlled access and reserved parking.
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