Student Housing Daily - November 13, 2026 - TSB arranges financing for 707 beds near Michigan State

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NEWS ROUNDUP

FINANCING: TSB arranges financing and equity for 707 beds near Michigan State. TSB Capital Advisors has arranged senior construction financing and institutional equity for Harbor Bay Ventures' 12-story, 707-bed student housing high-rise in East Lansing, Michigan. Busey Bank and FNBO co-led the senior loan, with MSU Federal Credit Union and Horizon Bank also taking part. Ian Bradley of TSB said the location and mass timber design make the project one of a kind and that it is Harbor Bay's first institutional equity raise, and Chief Operating Officer Brian Bell said Harbor Bay owes the Ballein family and the community a building worthy of the bookstore's legacy.

ACQUISITION: HPP Equity acquires 834 beds near Western Michigan University. HPP Equity has acquired an 834-bed student housing community near Western Michigan University in Kalamazoo, Michigan, and hired HH Red Stone, part of HH Group, to manage it. HPP plans to repave the parking lot and add more than 200 parking spaces, a dog park, faster internet, fitness center upgrades and apartment renovations. CEO and founder Justin Kain said the community has strong fundamentals and a clear path to improvement, and Vice President of Acquisitions Alex Linden said the underwriting focused on upgrades residents will notice, starting with parking, internet and outdoor space. HH Red Stone co-founder Tony Shen and Senior Vice President of Business Development Teddy Abdelmalek said the firm will pair the upgrades with consistent service and keep ownership informed. HPP was co-founded by Justin Kain and Chief Investment Officer Nathan Kain, and HH Group has more than 11,000 beds across 32 properties.

DEVELOPMENT: Desai and York win design exemptions for 500 beds near Mississippi State. The Starkville Board of Aldermen has approved design exemptions for a roughly $45 million development by Desai Companies and York Developments that pairs a 100-room Home2 Suites hotel with a 500-bed student housing community on a 21.6-acre site near Mississippi State University in Starkville, Mississippi. Mayor Lynn Spruill said the project will serve MSU students and visitors and fits the city's goals for the Highway 12 corridor. Austin Courtney, development associate at York Developments, said road work is underway and site plans will be submitted soon, and city planner Daniel Havelin also spoke at the meeting.

FINANCING: Berkadia arranges refinancing for 365 beds near University of Cincinnati. Berkadia has arranged a life company refinancing from Aegon for Hallmark Communities' 103-unit, 365-bed student housing community one block from the University of Cincinnati campus; the loan amount was not disclosed. Aaron Moll, managing director and head of student housing mortgage banking at Berkadia, led the deal with Director Trevor Friday, congratulated Hallmark's William Kirk and Cameron Kirk, and credited Reed Lette and the Aegon team with the execution. Berkadia's student housing team also includes Peter Benedetto, Stephen Skok, Kevin Nimmo, Kevin R. Larimer, Travis Prince, Shawn Lubic and Victoria Marks Vagnier.

READ: Franklin Street reports 87.3% occupancy in the Austin Peay student housing market.

STUDENT HOUSING FOR SALE

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60 Units | 239 Beds | $7,950,000 | 94% Occupied | Built 1982 | Near University of Illinois Urbana-Champaign

3 Properties | 189 Units | 383 Beds | Built 1994/2014 | Adjacent to Indiana State University

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