TSB Capital Advisors collaborates on $25 million in financing for acquisition near University of South Florida
BETHESDA, MD — Walker & Dunlop announced today that it structured $25,350,000 in financing for The Retreat at Tampa, a Class A dedicated student housing property in Tampa, Florida. Located adjacent to the University of South Florida, the cottage-style community was built in 2017 and comprises 416 beds in total.
TSB Capital Advisors worked with Walker & Dunlop Senior Managing Director Will Baker, Senior Director William Shell, and Associate Director Doug McDaniel to provide the debt. The team leveraged its extensive knowledge of student loan programs and canvassed its vast network of capital providers on behalf of the buyer, Nimes Real Estate. Walker & Dunlop ultimately provided the capital through its own balance sheet lending program, which offers permanent and short-term, nonrecourse loans for properties that are being acquired or repositioned.
The Retreat at Tampa offers spacious floor plans with three- and four-bedroom layouts, as well as the option for full furniture rental packages. Each of the luxury cottages features decks or patios, private bedrooms with individual bathroom suites, walk-in closets, high-end finishes, hardwood-style flooring, granite kitchen countertops, and stainless steel appliances. Community amenities include a resort-style pool, grilling area, state-of-the-art fitness center, computer lounge, study rooms, an enclosed dog park, and expansive green space.
For more information on this deal, read the full release here.