HH Fund, a leading student housing investment and management company, has successfully secured a $64.6 million loan through Freddie Mac’s Capital Markets Execution program. The loan will be used to refinance Nine East 33rd, a highly sought-after student housing property located near the Johns Hopkins University Homewood campus.
Lument’s Tim Smits played an instrumental role in securing this 5-year fixed-rate mortgage with interest-only payments for HH Fund. This financing opportunity allows the borrower to transition from short-term financing obtained during their recent acquisition of Nine East 33rd in 2021.
“We are pleased to have delivered such a favorable outcome for this dedicated owner-operator of student housing properties,” stated Smits confidently amidst current challenges faced by capital markets.
Built in 2016, Nine East 33rd boasts of modern amenities and comprises of well-designed one-, two-, three- and four-bedroom units that come fully furnished. With over seven thousand beds across fifteen properties spanning seven states under its portfolio, HH Fund specializes in investing and managing top-notch student housing facilities.
