Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
HH Fund Secures $65M for Baltimore Student Housing
HH Fund has secured a $64.6 million loan through Freddie Mac’s Capital Markets Execution program to refinance Nine East 33rd, a 568-bed student housing property near the Johns Hopkins University Homewood campus.
Tim Smits of Lument secured the 5-year fixed-rate mortgage with interest-only payments. The loan enables the borrower to transition from short-term financing obtained during the property’s 2021 acquisition. “We are pleased to deliver a favorable outcome for this committed student housing owner-operator, particularly amidst current capital market challenges,” said Smits.
Built in 2016, Nine East 33rd comprises 157 units offering one-, two-, three-, and four-bedroom floor plans, all featuring full furnishings. HH Fund specializes in investing in and managing student housing properties, with a portfolio of 7,000 beds across 15 properties in seven states.
- ◦Financing
