PHOENIX, AZ — TSB Capital Advisors, the national leader in student housing real estate advisory services, successfully negotiated financing of River Edge, a 175-unit, 622-bed student housing community located near Boise State University in Boise, Idaho. The financing was arranged on behalf of a joint venture of University Student Living and Harrison Street Real Estate Capital.
The floating-rate term loan was provided by BMO Harris Bank N.A.
“BMO Harris Bank recognized the short time frame requested by the ownership group to refinance the existing construction loan, and executed flawlessly for the partnership,” said Timothy S. Bradley of TSB Capital Advisors.
River Edge is a first‐class, luxury, student‐oriented, urban apartment community located adjacent to the northwest corner of Boise State University and along the Boise River. Built in 2015, the property features a mix of two- and four-bedroom floor plans, with the average unit size over 1,200 square feet. In addition to fully furnished apartments, community amenities include a 24-hour fitness facility, tanning center, study lounge, hot tub and immediate access to neighborhood hike and bike trails.
River Edge is one of several purpose-built student housing development projects in a platform joint venture between University Student Living and Harrison Street Real Estate Capital. TSB Capital Advisors announced on June 21 acquisition financing for Hill Country Place, a student housing community in San Antonio, Texas, for the same ownership.
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.
