New York & Tri-State + New Jersey + Finance | January 23, 2023

Walker & Dunlop advised The PRC Group on an $88-million refinancing of Campus Town at TCNJ, a student housing complex in Ewing, NJ

Walker & Dunlop Advises on $88M Refi of Central NJ Student Housing

Walker & Dunlop was recently an exclusive advisor to The PRC Group on an $88,374,000 refinance for Campus Town at TCNJ, located in Ewing, NJ. Brokers John Banas, Kristopher Wood, Christopher Philipps, Rhett Saltiel, Erik DiGirolamo, and Sean Bailey secured the financing for the 184-unit Class A student housing apartment complex just outside the campus of The College of New Jersey.

Campus Town is a mixed-use development consisting of 11 buildings with student housing units on upper floors with 612 beds and 78,787 square feet of ground-floor commercial space within 27 commercial units.

“Walker & Dunlop is proud to have played a role in this refinancing; due to our extensive network of capital providers and strong relationship with the lender, the team was able to lock in a great fixed rate a month prior to loan funding,” said Banas, managing director of capital markets at Walker & Dunlop.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).