First Citizens Bank has recently provided $47.7 million in financing for Aspen College Park, a student housing facility located at the University of Maryland in College Park. Developed by Aspen Heights Partners and owned by an affiliate of GTIS Partners, this modern facility is situated at 4205 and 4206 Knox Road and offers a total of 129 units with 432 beds and over 136,000 square feet.
According to Scott Bordogna, Managing Director and Head of Asset Management at GTIS Partners, “Aspen College Park is strategically located to serve the University of Maryland community.” He also expressed appreciation for First Citizens Commercial Real Estate’s expertise in arranging financing that meets their needs while supporting the success of this project.
Chris Niederpruem, group head for First Citizens Bank Commercial Real Estate added that GTIS Partners has a strong track record in delivering high-quality properties tailored to meet market demands. This partnership between First Citizens Bank’s Commercial Real Estate business and GTIS will undoubtedly result in another successful development that caters to the evolving needs within its market.
