MIAMI—A mixed-use student housing high-rise project in Downtown Orlando at the UCF/Valencia Campus at Creative Village has won the confidence of investors. HFF arranged more than $100 million in financing for the project.
The HFF team worked on behalf of the co-developers, DEVEN – Development Ventures Group, (formerly known as KUD International LLC) and Ustler Development, to arrange the capital stack. The stack consisted of a $68.1 million construction loan from PCCP, $29.9 million in joint venture equity from Halstatt Real Estate Partners and $5.3 million in sponsor equity contributed by the co-developers.
The HFF team included senior managing director Michael Weinberg, managing director Brian Kelly and director Mike Higgins. The land was acquired in a separate transaction, which closed in October.
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