Cushman & Wakefield announced that the real estate services firm served as the exclusive advisor to SR Real Estate Partners and Circle Squared Alternative Investments in securing $77,000,000 for the refinancing of Junction 49, a brand-new, fully-amenitized 754-bed student housing community.
A Cushman & Wakefield Equity, Debt & Structured Finance team of Gideon Gil, Zach Kraft, Dale Braverman and Travis Prince represented the borrower.
“This transaction underscores the strong demand for quality student housing in strategic locations,” said Gil. “Junction 49’s proximity to UNC Charlotte and its extensive amenities make it a top choice for students seeking a modern living experience, ultimately making this a compelling opportunity for lenders.”
Junction 49 is a 370,883-square-foot property that features 12,396 square feet of amenity space. The property offers a variety of amenities including private and group study rooms on each floor, an oversized lounge area, a game room, a grab and go market, a 24-hour fitness center, a resort-style pool, a hot tub, poolside cabanas, outdoor grilling stations and two courtyards. The property’s location in Charlotte offers unparalleled accessibility to a variety of local amenities, including a wide range of dining, retail and entertainment options.
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more.
