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3/13/20
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Los Angeles-based M&A Real Estate Partners has obtained an $18.5 mil loan for The Hive Isla Vista, a five-property student housing portfolio near the campus of University of California, Santa Barbara. CBRE’s Brad Wilmot arranged the floating rate loan with a three-year initial term.
The portfolio totals 35.9k sf with all the properties being within walking distance of the campus. Community amenities include fitness centers, gated access and swimming pools.
“Santa Barbara is a very strong housing market with high demand and significant barriers to entry,” said Wilmot. “The portfolio has experienced extremely high occupancy, is very well-maintained and benefits from strong ownership and management.”
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