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  • Purpose-built student housing complex with 36 units/108 beds
  • New construction
  • Property is master-leased for 5 years to the chapter of a local sorority
  • No operating history as property is newly constructed
  • Nearby university has seen positive enrollment growth which has prompted a need for some students to move off-campus
  • Units are cottage-style with full amenities including clubhouse, workout facility and pool
  • Sponsor is a seasoned real estate investor who owns other multifamily properties in the U.S.
  • Non-recourse
  • 10-year term
  • Loan will remain on A10's balance sheet and serviced in-house for its lifetime