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600-Unit Tucson Student Housing Community Acquired
Hunt Mortgage Group provided a $19.1-million, first mortgage, bridge loan to finance the acquisition of The Ledges at West Campus, a student housing property located in Tucson, AZ. The borrower was Tempe Friends And Family, LLC, backed by sponsors Edward Robson, Gerald Porter, and Howard Berger.
The 596-bed townhouse-style student housing complex was built in 1997, and was renovated between 2014 and 2017. The property is located at 2162 West Speedway Blvd., and consists of 32, two-story apartment buildings and a leasing office/clubhouse building.
“Approximately 65% of the tenants at The Ledges at West Campus are students, and the property attracts students from both the University of Arizona and Pima Community College,” said Hunt Mortgage Group’s John Hurley. “The remaining units are leased at market rates, and the property provides tenants both by-the-bed and by-the-unit leasing options.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Sale/Acquisition

