Student Housing Provider Lands $230M Refinancing Loan

Law360, New York (February 13, 2014, 1:55 PM EST) -- Austin, Texas-based Aspen Heights has secured $230 million to refinance construction debt on student housing properties at six different universities across the country, HFF LP, which assisted the developer in the deal, announced Thursday.

Aspen Heights, which provides off-campus housing for students at 13 different locations in the U.S., landed six separate loans, each of which includes five years of interest only loans, through Morgan Stanley Mortgage Capital Holdings LLC. The $230 million worth of securitized loans will be serviced by HFF.

On Thursday, HFF said...
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