TALLAHASSEE, FL-The Collier Cos. andMadison International have formed a joint ventureon a two-property student housing portfolio valued at about $125million. Freddie Mac provided the $86.7 million in debt for theportfolio, while Madison International Realty acquired an 80%interest in the existing ownership entity.

The senior mortgage loan on Seminole Grand in Tallahassee is a$44.85 million fixed rate loan at 5.17%, with a seven-year term andone year of interest-only amortization. The senior mortgageloan on the Enclave in Gainesville is a $41.86 million fixed rateloan at 5.16 percent, also with a seven-year term and one year ofinterest-only amortization.

Jones Lang LaSalle’s Capital Markets arrangedthe joint venture partnership. JLL executive vice presidentJames Tramuto and managing directorsJubeen Vaghefi and Denny St.Romain led the JLL team on the deal.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.