Shore to Shore Gets $42M for Student Property
Serving the University of Mississippi, the community came online in 2016.
Shore to Shore Properties has obtained a $42 million first-mortgage bridge loan to refinance The Domain at Oxford, a 216-unit, 642-bed student housing community in Oxford, Miss. Seven Hills Realty Trust originated the floating-rate note.
The loan has a three-year initial term with two one-year extension options. Newmark advised the borrower in the deal and introduced Seven Hills’ manager, Tremont Realty Capital, to the transaction.
Previous financing for the Class A community included a $39.4 million CMBS loan from Deutsche Bank Trust Co. that was originated by Lument in 2016, according to Yardi Matrix information. The note was due to mature this month.
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Completed in 2016, The Domain at Oxford encompasses eight three-story buildings spread across more than 37 acres, the same data provider shows. The unit mix consists of one-, two- and four-bedroom floorplans, ranging from 558 to 1,684 square feet. The fully furnished apartments also have private balconies or patios.
Common-area amenities feature a fitness center, clubhouse and swimming pool, as well as volleyball and basketball courts. Additionally, the property has outdoor green spaces, private study pods, a movie theater and tanning beds.
The Domain at Oxford is at 2002 Oxford Way, some 2 miles from the University of Mississippi campus and the Vaught Hemingway Stadium. The location is also roughly 3 miles from downtown Oxford.
