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JV Procures $73.3M Construction Loan for FSU Student Housing
Portman, 908 Group, Canyon Partners Real Estate and PTM Partners have partnered up to develop a student housing project (“The Hall”) on the Florida State University (“FSU”) campus across from Legacy Hall, the future home for the FSU College of Business. The Tallahassee project is currently under construction with completion scheduled for Spring 2026. The joint venture secured a $73.3 million senior construction loan from Pacific Life Insurance Company. TSB Capital Advisors acted as the financial advisor to Portman and 908 Group in the deal.
The Hall is a Class-A student housing project located in a Qualified Opportunity Zone. It will feature 191 units and 674 beds across two mid-rise buildings, with 452 parking spaces and 7,689 square feet of ground-floor retail. The Hall will offer amenities, including a rooftop pool and a fitness center.
FavorGray is the general contractor. Construction is expected to be completed before the start of the 2026-2027 academic year.
- ◦Development
- ◦Financing
