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Washington DC & Mid-Atlantic  + Student Housing  |  February 10, 2020
David Cohen
By: David Cohen

HKS Secures $28M Refinancing for College Park Student Housing Property

HKS Real Estate Advisors has secured a $27.5-million loan to refinance the Enclave, a seven-story, 94-unit student housing property in College Park, MD.

Located at 8700 Baltimore Ave., the 175,000-square-foot property serves students that attend the University of Maryland. The property features a private courtyard, a fitness and recreation center and retail shops/restaurants on the ground floor, with three levels of indoor parking on the back side of the building.

John Harrington of HKS secured the non-recourse loan on behalf of the borrower, developer Mukesh Majmudar, founder of the holding company Star Global Ventures. The lender was Bethpage Federal Credit Union. Terms of the loan included a fixed 4.5% percent interest rate for 10 years.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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