TSB Capital Advisors (TSBCA) is proud to announce the closing of a construction loan for The Varsity at College Park located next to the University of Maryland in College Park, MD. Construction financing was secured on behalf of a joint venture between Potomac Holdings Development and Campus Suites. Construction financing is being provided by Bank of America, US Bank and the University of Maryland Foundation. Completion for the project is expected by next August for the 2011-2012 academic year.
The Varsity will be a luxury student housing project located just off campus. The project is situated adjacent to campus on Baltimore Avenue. It will feature 901 beds in a variety of apartment-style floor plans. Units will feature upscale amenities such as flat-screen televisions, granite countertops, washers and dryers, and wireless Internet access.
The property will contain a variety of amenities including a fitness center, a business center and a game room. The ground floor of the building will contain 20,000 square feet of retail space. Covered parking will be provided for customers and students. The building will also feature sustainable components such as a reflective roof, Energy Star appliances and bike racks.
