HH Fund Secures $65M for Baltimore Student Housing
HH Fund has secured a $64.6 million loan through Freddie Mac’s Capital Markets Execution program to refinance Nine East 33rd, a 568-bed student housing property near the Johns Hopkins University Homewood campus.
Tim Smits of Lument secured the 5-year fixed-rate mortgage with interest-only payments. The loan enables the borrower to transition from short-term financing obtained during the property’s 2021 acquisition. “We are pleased to deliver a favorable outcome for this committed student housing owner-operator, particularly amidst current capital market challenges,” said Smits.
Built in 2016, Nine East 33rd comprises 157 units offering one-, two-, three-, and four-bedroom floor plans, all featuring full furnishings. HH Fund specializes in investing in and managing student housing properties, with a portfolio of 7,000 beds across 15 properties in seven states.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.