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AIGCAF Closes $112.5 Million Student Housing Loan

February 14, 2014, 06:40 AM
Filed Under: Real Estate

AIG Commercial Asset Finance (AIGCAF) and its affiliates have provided $112.5 million in financing for University Park at Evansdale LLC (University Park), a public private partnership (P3), for the construction and permanent financing of a 425,000 square foot, 1300 bed, on-campus student housing complex at West Virginia University.

Greg Burns, Vice President of the Real Property Finance group at AIGCAF, said that due to AIG’s extensive experience in real estate and project finance, AIGCAF was able to meet a tight timetable to ensure on-time commencement of construction.

“We were impressed with AIGCAF’s deal team as they were concurrently underwriting and documenting through the holiday season. We are appreciative of their dedication and look forward to a lengthy relationship with them,” according to Mark Nesselroad of University Park.

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