CFA Capital Partners ‘CFA’ Continues Its Dominance of the Student Housing Debt, Funds 58 Unit Portfolio at Rensselaer Polytechnic Institute
2008-08-21 02:00:00
RYE, N.Y. (EMWNews) August 21, 2008 —
In the midst of a real estate market presenting unsure futures to many
developers, CFA Capital Partners closes another bridge loan for one
borrower with a bright future.
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Maximus Yaney, President of Campus Habitat, was presented with an
opportunity to acquire several hundred newly constructed student housing
units at a significant discount. When he realized that he had to move
quickly or risk losing the entire opportunity, he came to CFA. Having
successfully closed over $34 million in student housing transactions
this year alone for Campus Habitat, CFA has offered Campus Habitat the
speed and flexibility it needs in order to fund time-sensitive projects.
In many instances, CFA has closed these transactions in a matter of days.
“When I find something that works, I stick with it. When there are
millions of dollars in profit on the line, that’s just good business
sense”, said Mr. Yaney. “CFA has proven to me again and again that they
can close my deals quickly and efficiently, and I value very highly the
level of trust that I have with them.”
In order to acquire a brand new student housing facility in a short sale
with a hard closing date, Mr. Yaney had an immediate need for equity.
CFA closed a bridge loan on 58 units of Campus Habitat’s 218 unit
portfolio at Rensselaer Polytechnic Institute. The $2.6 million bridge
loan closed in 5 business days and Campus Habitat acquired their newest
property without a hitch.
“The market has become increasingly
challenging, but student housing is a niche we like –
it’s recession-proof and fills a need that
contributes to the future of this country”,
said Steven Anello, Managing Partner at CFA. “We
look forward to a long and mutually beneficial relationship with Max and
Campus Habitat.”
As a company that has proven itself with a multitude of successful
deals, CFA has built a strong reputation for managing complex financial
transactions, acquisitions, and recapitalizations with its innovative
bridge and mezzanine programs. CFA has successfully funded assets such
as multifamily residential, hotels, office buildings, medical
facilities, and retail.
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