Multifamily-Student Housing

Shoreline arranged non-recourse construction takeout financing for an historic office building converted to student housing for two universities.  While the property is conveniently adjacent to the financially superior college, it is encumbered by an exclusivity arrangement with the other school, a for-profit, recent start up. This mismatch was overcome with a reserve structure and cash management.

  • Loan Amount: $3,800,000
  • Property Size: 27,942 SF
  • Units: 130
  • State: TN