TSB Capital Advisors Arranges Acquisition Financing of Hill Country Place
PHOENIX, AZ — TSB Capital Advisors, the national leader in student housing real estate advisory services, successfully negotiated acquisition financing of Hill Country Place, a 228-unit, 696-bed student housing community serving the students of the University of Texas at San Antonio. The financing was arranged on behalf of a joint venture of University Student Living and Harrison Street Real Estate Capital.
The seven-year, floating-rate loan was provided by Freddie Mac, through Walker & Dunlop.
“The acquisition of Hill Country Place continues the existing partnership’s relationship while expanding the value-add acquisition platform of University Student Living and Harrison Street Real Estate,” said Timothy S. Bradley of TSB Capital Advisors.
Hill Country Place is a garden-style property located within a half-mile of the University of Texas at San Antonio campus. Built in 2008, the property features a mix of one-, two- and four-bedroom floor plans, as well as a full array of Class A amenities, including sand volleyball court, pool and hot tub, fitness center, game room, hike and bike trail, and fire pit. The new owners anticipate extensive renovations at Hill Country Place, with upgrades to the kitchens, bathrooms, furniture packages and community amenities.
TSB Capital Advisors is the national leader in student housing real estate advisory services, and has offices in Phoenix, Arizona (headquarters) and Paoli, Pennsylvania. Since its creation in 2009, the firm has helped close more than 180 deals and $8 billion in student housing and multifamily transactions.