Prescient Capital closed a $6.8 million loan for a 192-bed student housing complex in Emporia, Kansas. The four-story, 50-room complex is located across the street from the campus of Emporia State University, a 6,000-student, Division II university.
In addition to the primary collateral, Prescient Capital secured the loan with a second-position lien on an additional student housing complex in which the borrowers had more than $2.5 million of equity.
To further secure the loan, Prescient received personal guarantees from the borrowers with a combined net work of $42 million.
