JLL has successfully arranged a $63 million refinancing deal for Vie Towers, a luxurious student housing community in Hyattsville, MD. This high-rise building is fully occupied and caters to students from Howard University and the University of Maryland.
The borrower, Safanad and Vie Management, sought the assistance of JLL’s Capital Markets Debt Advisory team consisting of Senior Managing Director Doug Opalka, Senior Director Dan Kearns, and Directors Jayme Nelson and Owen Claypool. The team secured a three-year floating rate loan through Värde Partners on behalf of the borrower.
Vie Towers is conveniently located at 6515 Belcrest Rd. in Hyattsville with easy access to both universities via its private shuttle service – just four minutes to University of Maryland and 16 minutes to Howard University. In addition, residents can reach downtown DC within 25 minutes by car. The property also offers close proximity to shopping and dining options at Mall at Prince George’s in Hyattsville.
This successful refinancing deal highlights JLL’s expertise in arranging financing for premier properties like Vie Towers without mentioning any specific company names or locations.
