BATON ROUGE, LA—An HFF team has arranged $19.5 million in financing for Stirling Properties Inc. The loan was used to fund the purchase of Tiger Manor, a 287-unit student housing community serving students attending Louisiana State University here.

HFF senior managing director Kevin Mackenzie and associate director Jim Curtin negotiated on behalf of the borrower, a Covington, LA-based commercial real estate firm. Natixis Real Estate Capital LLC provided the debt, which carries a fixed rate and 10-year term.

As GlobeSt.com previously reported, the 515-bed student housing complex traded for $24.25 million after a competitive bidding process. Stirling Properties beat out 13 other offers on the 93% occupied community, located at 3000 July St. a block away from campus. The seller was GRS Property Management, based in Lake Worth, FL. In addition to the student housing component, Tiger Manor features 32 on-site condominiums sold to private owners during the condo boom of a few years ago. Yet that condo component discounted the asset’s cap rate by about 75 basis points.