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  • Property consists of 9 buildings with 232 units near the University of Arkansas
  • 68% leased at closing
  • Sponsor began strategic corporate repositioning over a year ago which resulted in lack of focus on leasing up the property
  • Leasing velocity has improved for current academic year and is on track to reach full stabilization
  • Sponsor has appointed a new management firm with student housing experience to operate the asset
  • Non-recourse
  • 3-year term plus extensions