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Washington DC & Mid-Atlantic  + Baltimore  + Student Housing  |  January 31, 2025
Jasmine Kilman
By: Jasmine Kilman

First Citizens Bank Provides $48M for MD Student Housing

First Citizens Bank’s Commercial Real Estate business has provided $47.7 million for Aspen College Park, a student housing facility at the University of Maryland in College Park.

Owned by an affiliate of GTIS Partners and developed by Aspen Heights Partners, the facility is located at 4205 and 4206 Knox Road. It offers 129 units with a total of 432 beds and 136,135 rentable square feet.

“Aspen College Park is a modern student housing development strategically located to serve the University of Maryland community,” said Scott Bordogna, Managing Director and Head of Asset Management at GTIS Partners. “We appreciate the expertise and collaboration of the First Citizens Commercial Real Estate team in arranging financing that aligns with our needs and supports the success of this project.”

“GTIS Partners has a proven track record of delivering high-quality, purpose-built properties that meet the evolving needs of their markets,” said Chris Niederpruem, group head for First Citizens Bank Commercial Real Estate.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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