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Florida & Gulf Coast  + North Florida  + Senior Housing  | 
Square Mile Capital Management, LLC, has closed a $93-million construction loan for a student housing building near UF in Gainesville, FL.

$93M Financing to Bring 861-Bed Student Housing Project to Gainesville

Square Mile Capital Management, LLC, has closed a $93-million construction loan for Theory Gainesville, an 861-bed student housing building near the University of Florida in Gainesville, FL.

Square Mile Capital served as the mezzanine lender, with Pacific Western Bank as the senior mortgage lender. The loan was made to Blue Vista Capital Management.

“We remain bullish on the long-term demand prospects for well-located student housing properties at top universities, and we believe the Gainesville student housing market will continue to grow over the coming years,” said Square Mile Capital principal Harris Neuberg.

“The dynamics of the larger schools in Florida, such as UF, are very strong for the foreseeable future,” added Tom Whitesell, Pacific Western Bank EVP and group head of commercial real estate. “This creates an ideal environment for private sector purpose-built student housing,”

Delivery is expected in two phases, before the fall 2023 semester and before the spring 2024 semester.

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Square Mile Capital Management, LLC

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Development
  • ◦Financing