Summary:
- L3 Campus and Aureon Partners secured a $53.7 million refinancing for OnShore, a 210-unit, 636-bed student housing community near Embry-Riddle Aeronautical University in Daytona Beach, supporting continued investment in the property’s growth.
- Walker & Dunlop Capital Markets Real Estate Finance led the seven-year, floating-rate loan with a four-year interest-only period, arranged through Freddie Mac, reflecting strong lender confidence in the asset’s performance.
- OnShore, delivered in 2020, offers Class A accommodations with amenities including a flight simulator and shuttle service, maintaining occupancy above 98%, underscoring its appeal in the competitive student housing market.
Original article:
https://www.connectcre.com/stories/daytona-beach-student-housing-investors-ink-53-7m-refi/
