Walker & Dunlop Closes $26M Loan for AL Student Housing

Two21 Armstrong, a 390-bed property, is located just two blocks from Auburn University. Livingston Hessam, Jeremy Pino and Kyle Miller, along with HUD experts Keith Melton and David Strange, arranged the loan.
Two21 Armstrong
Two21 Armstrong

Following the arrangement of a $54 million in bridge financing for the acquisitions of a Jacksonville, Fla., portfolio, Walker & Dunlop has secured a $24.5 million loan for Two21 Armstrong, a 390-bed student housing community in Auburn, Ala. Livingston Hessam, Jeremy Pino and Kyle Miller, together with HUD experts Keith Melton and David Strange, were part of the team that secured the loan.

Located at 221 Armstrong St., the property serves students at Auburn University, situated two blocks from the campus. Various shopping, dining and entertainment venues such as Samford Park, Taco Bell, Ralph Brown Draughton Library, McDonald’s, CVS and Jordan-Hare Stadium are also nearby. 

Common-area amenities include:

  • community bicycles
  • billiards room
  • fitness center
  • two grilling stations
  • sparkling swimming pool
  • clubhouse
  • business center
  • volleyball court

The three-story community offers 156 one-, two- and three-bedroom units and includes amenities such as granite countertops in kitchen, washer/dryer, walk-in closets and balconies in selected units.

Image via Google Street View

If you’d like to be featured in Brokers’ Corner, send your deal to deals@cpe-mhn.com