Global Student Housing Lands $28M Loan for Texas Project
Arriba Capital provided the financing for the 339-bed development.
Global Student Housing has landed a $28 million construction loan for Global Student Housing College Station, a 339-bed student housing property in College Station, Texas. Arriba Capital provided the development financing for the project.
McGough serves as the general contractor, while BKV Group is the architect. Asset Living is set to manage the property upon completion. According to the Texas Department of Licensing and Regulation, the estimated cost for the project is $33 million.
Located at 404 Harvey Mitchell Parkway South, adjacent to the Texas A&M University Research Park, the student housing community will provide convenient access to Texas A&M University, situated about 4 miles away, as well as to various dining and entertainment venues including John Crompton Park, Reed Arena, Gate 12 Bar & Grill and Burger Mojo. The Easterwood Airport is also nearby.
Global Student Housing College Station will feature 199 units, equipped with complete kitchens and bathrooms, as well as washers and dryers, walk-in closets, study desks and dining areas. The community will also provide on-site management and maintenance services. Students will have access to amenities including a pool, fully equipped gym, outdoor fitness area, game room, study lounges, high-speed internet, camera surveillance, electronic locks, controlled access, business center, bike storage room and a package room. Additionally, 356 parking spaces and a leasing office will be available onsite.
Upon completion, the property will serve Texas A&M University. According to Yardi Matrix data, the university had 1,944 bedrooms underway as of March.