Fountain Residential Partners received $29.5 million in construction-loan financing and $11.6 million in joint-venture equity from HFF for the development of Metro Park East, a 194-unit student-housing project located at the University of Minnesota’s Twin Cities campus.
The development will be located in the Stadium Village neighborhood next to the University of Minnesota’s East Bank campus. Construction is scheduled to wrap on the project for the 2014 fall semester.
The development will be a higher-end one, featuring such amenities as stainless-steel appliances, Wi-Fi and flat-screen televisions. The project will also include a clubhouse, fitness center and cyber cafe.
