Student Housing Daily - November 9, 2026 - Affinius lends $100.3M for 672 beds in Pittsburgh

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NEWS ROUNDUP

FINANCING: Affinius lends $100.3M for 672 beds in Pittsburgh. Affinius Capital originated a $100.3 million construction loan for Starwood Capital Group and Trinitas Ventures’ Atmosphere Pittsburgh development in the Oakland neighborhood. The project will contain 326 units and 672 beds, including 34 affordable units with 70 beds, plus 114 parking spaces. Affinius senior vice president Tyler Figley highlighted its proximity to the University of Pittsburgh and Carnegie Mellon University. Delivery is scheduled for July 2028, with Cardinal Group managing the property.

ACQUISITION: Hackberry Lane adds approximately 1,650 beds in Florida and Alabama. Hackberry Lane completed multiple acquisitions near the University of Florida in Gainesville and the University of Alabama in Tuscaloosa, adding approximately 1,650 beds and bringing its owned portfolio to about 4,000 beds. Founded in 2023 by Reid Marks, Nick Helfand and Cameron Koffman, the firm focuses on townhomes, single-family rentals, garden-style apartments and boutique communities near major universities.

DEVELOPMENT: Greystar seeks rezoning for 1,010 beds near the University of Utah. Greystar and Valley Behavioral Health are seeking to rezone the 5.33-acre Pingree Center site at 780 S. Guardsman Way in Salt Lake City. The proposed five-story community would contain 345 apartments and 1,010 beds, with roughly 500 garage spaces. Snell & Wilmer attorney Wade Budge outlined the rezoning case in a supporting letter. The autism services center on the site expects to relocate in 2028.

FINANCING: Madrone seeks $275M in bonds for 415-unit D.C. office conversion. Madrone has requested up to $275 million in revenue bonds to convert the vacant office building at 600 E Street NW in Washington, D.C., into approximately 415 apartments for students, faculty and staff at nonprofit colleges and universities, with a ground-floor grocery store. Council Chairman Phil Mendelson requested emergency consideration on November 10. Financing must close this month to support an August 2028 completion. The bonds would be repaid solely by Madrone and would not be District debt.

READ: Provo approves up to 523 student housing beds at former Park Plaza site.

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132 Units | 342 Beds | Built 1984/2000 | Near Texas State University

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