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$37M Acquisition Financing Arranged for Student Housing
Park Partners Residential has acquired Campus Club and Gateway at Glades, a 1,356-bed student housing portfolio serving the University of Florida in Gainesville, FL. The buyer nabbed the two properties with help from a $36.8 million loan arranged by HFF. The acquisition and bridge financing was obtained through Resource Real Estate.
Park Partners’ plan is to renovate and reposition the properties to compete against the market’s newer assets. Elliott Throne and Brian Gaswirth led the HFF debt placement team.
Campus Club Apartments is at 4000 S.W. 37th Blvd. Floor plans include three-bed, two-bath and four-bed, three-bath. Gateway at Glades, at 3415 39th Blvd. offers three-bedroom, three-bathroom and four-bedroom, two-bathroom plans.
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