JLL announced that it has arranged the $18.5 million acquisition financing for Bellamy Coastal, a 150-unit / 480-bed, Class A student housing property, serving Coastal Carolina University in Conway, South Carolina.
JLL worked on behalf of the borrower, Eastman Residential, to secure the five-year, fixed-rate acquisition financing through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital, LLC., a Freddie Mac Optigo℠ lender.
The JLL Capital Markets Debt Advisory team was led by Senior Director Dan Kearns, Senior Director Patricia Heminger, Senior Analyst Sam Tarter and Analyst Katia Novi.
The community is located at 300 Bellamy Avenue, just 0.5 miles east of CCU’s campus. Additionally, residents are just 10 miles away from downtown Myrtle Beach.
“Our JLL team is thrilled to help facilitate the first financing between Eastman Residential and Freddie Mac, establishing what will be a tremendous long-term relationship,” said Kearns.
