First Citizens Bank’s Commercial Real Estate division has provided $47.7 million in financing for Aspen College Park, a student housing facility serving the University of Maryland in College Park.
The property, owned by an affiliate of GTIS Partners and developed by Aspen Heights Partners, is located at 4205 and 4206 Knox Road. It features 129 units, totaling 432 beds across 136,135 rentable square feet.
“Aspen College Park is a modern student housing development strategically located to serve the University of Maryland community,” said Scott Bordogna, Managing Director and Head of Asset Management at GTIS Partners. “We appreciate the expertise and collaboration of the First Citizens Commercial Real Estate team in arranging financing that aligns with our needs and supports the success of this project.”
Chris Niederpruem, Group Head for First Citizens Bank Commercial Real Estate, acknowledged GTIS Partners’ strong track record, stating, “GTIS Partners has a proven track record of delivering high-quality, purpose-built properties that meet the evolving needs of their markets.”
About the Publisher:
Steve Griffin is a based in sunny Palm Harbor, Florida. He is an accountant by trade, and owner of GRIFFIN Tax (www.griffintax.com) and REVVED Up Accounting (www.revvedupaccounting.com). Steve is also the founder of Madison Avenue Technology (www.madisonave.tech). He carries a deep passion for commercial real estate and is actively involved in bringing you the daily beat.
