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Seattle & Northwest  + Pacific Northwest  + Student Housing  | 

Highland Secures $41M for Washington State University Student Housing

Highland Realty Capital arranged a $40.95 million bridge loan for The Ruckus at Washington State University in Pullman. The financing for the 334-unit and 976 bed student housing property was secured on behalf of NB Private Capital.

A Los Angeles based debt fund was the lender. The loan contains $2 million of capital improvement proceeds to convert 89 of the four-bedroom/two-bath units into three-bedroom/three-bath units.

NB Private Capital’s Blake Wettengel says, “Bed-bath parody is always an issue and with the effects of Covid, it became an obvious upgrade for us to make.”

“This was the second loan we have funded with this lender, but they waited until early October to close to ensure the students had returned and paying rent,” stated Highland’s Mike Guterman, who handled the transaction for NBPC.

Connect With NB Private Capital’s Wettengel

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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