Spaces Management Lands Refi for 531-Bed Student Property

Spaces Management has refinanced The Walk Starkville, a 531-bed student housing community in Starkville, Miss. TSB Capital Advisors arranged the fixed-rate loan on behalf of the borrower.

The 249-unit property is the newest purpose-built student housing development in the city.

The news comes on the heels of TSB Capital Advisors obtaining financing for a student acquisition on behalf of Nimes Real Estate. The company acquired Columbia Lofts, a 330-bed property in Columbia, S.C.

Located at 150 Wingo Way, The Walk Starkville is within walking distance of the Mississippi State University at Starkville campus and the Duby Noble Field stadium. Starkville’s city center is less than 3 miles east.

TSB Capital Advisors Vice President Jacob Mart arranged the refinancing.

A modern student housing community

Completed in 2023, the five-story community comprises one-, two-, three-, four- and five-bedroom floorplans ranging between 409 and 1,862 square feet. All units are fully furnished, with select layouts also having private balconies or patios.

Common-area amenities include a swimming pool, fitness center with yoga studio, along with a spa with sauna and steam room. The community also has an entertainment courtyard with jumbo TV, multiple lounge areas and a clubhouse with golf simulator, a gaming lounge and private study areas.

Student housing properties across Yardi 200 universities posted an estimated final occupancy rate of 95.1 percent as of September, according to a recent Yardi Matrix report. The figures highlight steady student housing market demand, even as rent growth has cooled. Annual rent increases averaged just 0.8 percent—the slowest pace recorded since Yardi Matrix began tracking the sector in 2017.