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Student Housing Daily - May 22 - Entrada Partners acquires 243 beds

Student Housing Daily - May 22 - Entrada Partners acquires 243 beds

Midwestern University to expand housing. JLL arranges refi. District Capital secures financing. Student housing trends with Tim Smits. Four new student housing deals.

Aid Sopjani & Matt H
May 22, 2025

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NEWS ROUNDUP

ACQUISITION: Entrada Partners acquires 243 beds. Entrada Partners has acquired 24Longview, a 243-bed student housing community near the University of Texas at Austin. Built in 2012, the 70-unit property offers one- to four-bedroom layouts and amenities including a pool, fitness center, study rooms, and green space. Kent Myers and Jordan Featherston of Institutional Property Advisors represented the undisclosed seller, while De’On Collins, Jayme Nelson, and Samantha Jay of JLL arranged acquisition financing. Entrada plans to implement capital improvements at the property.

DEVELOPMENT: Midwestern University to expand on-campus student housing. Midwestern University is developing a 256-unit student housing project on its Glendale, Arizona campus, with total costs estimated between $75 million and $95 million. The graduate health sciences institution has partnered with Phoenix-based Chanen Construction for the project, which will consist of eight two-story buildings. According to Jim Walters, SVP and director of operations at Chanen, two to four buildings could be ready for occupancy by this fall, with full completion expected by year-end.

FINANCING: JLL arranges $15.44 million refi. JLL has closed a $15.44 million refinancing deal for University Suites, a student housing property serving Coastal Carolina University in Conway, South Carolina. The deal was led by Melissa Marcolini Quinn, with key support from associate Cristian Sieman. JLL noted the property’s strong performance and location near both Conway and Myrtle Beach as drivers of the refinancing, which also sets the foundation for future expansion.

FINANCING: District Capital secures $25.1 million. District Capital has arranged a $25.1 million first mortgage loan for a 622-bed student housing community serving the University of Michigan–Dearborn. The nonrecourse loan was structured by Mike Lemon and provided by an undisclosed bank. Terms include a five-year fixed rate, one year of interest-only payments, and a 30-year amortization schedule.

READ: Student housing trends with Tim Smits.

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