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Centerline Infuses $2M into Tallahassee Student Housing

TALLAHASSE, FL—The student housing refis were attractive because leases have 12-month terms and property management rents on a per bed basis.

By Jennifer LeClaire | Updated on January 18, 2012

TALLAHASSE, FL-Centerline Capital Group just closed a duo student housing refis in Tallahassee. The firm provided a $2.4 million Fannie Mae DUS facility to refinance University Gardens II and Cottages at Magnolia.

The assets are non-contiguous multifamily student housing properties located within one quarter mile of each other. Florida State University is 3.2 miles and Florida Agricultural and Mechanical University is 0.9 miles northwest of the facilities, which were recently rehabbed and leased up.

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