Kennedy Wilson has successfully secured senior construction loans for the development of three student housing projects, totaling $184 million. These projects are located at prestigious universities such as the University of Wisconsin – Madison, University of North Texas and University of California, Berkeley.
Through Kennedy Wilson’s debt investment platform, these recent deals have expanded their student housing loan portfolio to a total value of $850 million. This will allow for the development of approximately 8,800 beds. Additionally, there is currently an evaluation underway for an additional $1 billion in new student housing loans which would provide 8,200 more beds.
According to Thomas Whitesell who heads Kennedy Wilson’s debt investment group: “We continue to see strong performance in the student housing sector compared to other asset classes due to its solid operating fundamentals and limited new developments in high-demand areas near growing educational institutions.” He also added that they are proud to add on top their already impressive track record with these latest originations and become one of the leading lenders in this market segment nationwide.
This news was originally published by Connect CRE but rewritten by our team at [Company Name].
