Alpha Alternative Investments recently closed a $14 million CMBS loan for a student housing facility in Champaign, Illinois.
Developed in 2013, the 72-unit, 194-bedroom multifamily property is located in the heart of the University of Illinois campus and targets undergraduate students.
“The project sponsor teamed up with Alpha Alternatives to originate the refinancing for a construction loan that was coming due, as well as recapitalize the asset,” Anthony Longo, Managing Partner with Alpha Alternatives, said.
Matthew Stearns, Senior Vice President of Alpha Alternative Investments, partnered with Longo to close this transaction.
