AUSTIN, TX— HFF, working on behalf of Aspen Heights, secured $230 million in financing through Morgan Stanley Mortgage Capital Holdings, Inc for a six-property student housing portfolio totaling 1,496 units.  

Austin-based Aspen Heights used the loan proceeds to refinance the construction debt on the student-housing properties. The student housing developer and manager builds neighborhoods of American Craftsman-style homes.

The properties include:

• Aspen Heights- Clemson, NC, University of Clemson;184 Units
• Aspen Heights- Columbia, MO, University of Missouri;318 Units
• Aspen Heights- Harrisonburg, VA, James Madison University;180 Units
• Aspen Heights- Murfreesboro,TN, Middle Tennessee State;244 Units
• Aspen Heights- Statesboro, GA,Georgia Southern University;339 Units
• Aspen Heights- Stillwater, OK, Oklahoma State University;231 Units

Since 2006, Aspen Heights has developed 15 student housing projects, with 5-7 more under construction slated for a 2014 delivery and a full pipeline of future projects both inside and outside the student housing market, noted Aspen Heights.

HFF senior managing director Doug Opalka, director John Chun and associate director Casey Wenzel completed the transaction.