CPN | Barbra Murray | July 25, 2008
Plans for the development of University Gateway, an upscale mixed-use student housing development across from the University of Southern California in Los Angeles, move forward with the closing of financing for the 421-unit project. With the assistance of commercial real estate capital intermediary Holliday Fenoglio Fowler L.P., developers Urban Partner L.L.C., Real Estate Capital Partners and Blackstone Real Estate Advisors attained funding totaling $167.5 million in the form of a construction loan and joint venture equity.
Globe St. | Bob Howard | July 25, 2008
HFF senior managing director Paul Brindley calls University Gateway “one of the most highly anticipated projects to be under way in the USC area in years,” in part due to the nearly 7,000-bed shortage the university is facing for student housing. The 421 units at University Gateway will provide 1,600 beds, Brindley notes.
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