Hub on Campus II to Kick Off at the Entrance to USC’s Greek Row

Square Mile Capital Management LLC recently provided construction financing for the Hub on Campus II, a to-be-built 577-bed student housing building at the University of Southern California in Los Angeles. Square Mile served as the mezzanine lender, with PacWest Bank as the senior lender. TSB Capital Advisors of Phoenix brokered the transaction on behalf of Chicago-based Core Spaces, the project’s sponsor.  

The site is located within the university’s main off-campus housing node on 28th Street between Figueroa and Flower streets, 0.4 miles north of campus at the entrance to Greek Row. Construction is scheduled to begin this month, with completion in advance of the 2023-24 academic year.

“Student housing has been one of the strongest-performing real estate sectors over the last 18 months, especially at the most competitive universities such as the University of Southern California, a leading research university and one of the premier student housing markets in the country,” says Harris Neuberg, Square Mile Capital vice president.