BIRMINGHAM, Ala. – May 15, 2020 – Berkadia announced today the financing secured for The Junction at College Station, a student housing property in College Station, Texas. Managing Director Thomas Genetti of Berkadia’s Birmingham, Alabama office secured the $31.7 million, 10-year term permanent financing for the property on behalf of the borrower, an undisclosed entity, and the deal closed on April 29.
“I want to thank the sponsors for entrusting Berkadia with this financing assignment. We are extremely pleased with the results and the team at Freddie Mac was exceptional in its execution of this transaction,” said Genetti. “With all the uncertainties surrounding COVID-19 and its far-reaching impact, Freddie Mac was unwavering in its support of this sponsor in getting this purpose-built student housing deal closed during the most trying of times.”
Located at 2415 Junction Boys Road, The Junction at College Station features three-, four- and five-bedroom floor plans. Community amenities include a swimming pool, a sand volleyball court, a clubhouse, a fitness center, a business center, conference rooms and a shuttle service station. Residents are afforded convenient access to Highway 6 and the shops and restaurants along Wellborn Road.