2 GA Student Housing Assets Receive $30M Recap Loan
The properties operate as one community, total 366 units and serve students attending the University of Georgia, which is located three miles away.
River Club Apartments at 1005 Macon Highway, Athens, Ga.
HFF has arranged a $30.4 million seven-year, floating-rate loan for River Club Apartments and River Club Townhomes, two Athens, Ga.-based student housing properties totaling 1,143 beds. The communities operate as a single property. Senior Managing Directors David Keller and Mark Sixour were part of the debt placement team that represented the borrower, an entity managed by The Scion Group, to secure the loan through Freddie Mac’s Capital Markets Execution program.
Serving the University of Georgia, the properties are situated within three miles of campus. Located at 1005 Macon Highway, River Club Apartments features 266 two-, three- and four-bedroom fully furnished units. Common-area amenities include free Wi-Fi, a full-featured clubhouse, fitness center, swimming pool, volleyball court, tennis court, tanning salon, private laundry in each unit, computer lab and a car wash station.
River Club Townhomes is located at 400 Timothy Road and offers a mix of 100 four- and five-bedroom units, two-story townhomes and includes common-area amenities such as a swimming pool, tennis, basketball and volleyball courts, tanning salon, computer lab and a car wash station. Additionally, the pet-friendly community gives access to River Club fitness center and clubhouse.
Image via Google Street View
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