The $167.5 million financing is a construction loan and jointventure equity for University Gateway, according to HFF seniormanaging director Paul Brindley and associate director John Crump.The two worked on behalf of Urban Partners LLC, Real Estate CapitalPartners and Blackstone Real Estate Advisors (BREA), an affiliateof the Blackstone Group LP, to secure the fully underwrittenconstruction loan through Wells Fargo's Merchant Banking Group. RCGLongview Equity Fund LP provided the equity.

Brindley calls University Gateway "one of the most highlyanticipated projects to be under way in the USC area in years," inpart due to the nearly 7,000-bed shortage the university is facingfor student housing. The 421 units at University Gateway willprovide 1,600 beds, Brindley notes.

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