Scion-Led Group Gets $52M For Student Housing Buys

Law360, New York (January 26, 2012, 2:18 PM EST) -- A real estate investment group led by student housing developer The Scion Group LLC has secured $52 million in government-backed acquisition financing for two student residential communities in Texas, the service provider arranging the financing said Thursday.

HFF Inc., a commercial real estate capital intermediary, said it had secured the financing for the Scion Group through two federal loans from Freddie Mac's Capital Markets Execution program, which backs loans for multifamily and other types of residential apartment properties. The interest-only, securitized loans are for five years,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.