We've gathered 60 of the biggest players in the Student Housing community to discuss the latest trends of the industry: everything from marketing and leasing to property management to debt and equity to investment sales opportunities. Click here for more info.

GREENVILLE, NC—Realco Partners raised $11.6 million to acquire its latest student housing asset. The New York City-based REIT snapped up University Suites, a garden-style student housing property with 171 units and 503 beds in Greenville.

Centerline Capital Group financed the student housing buy. GRC Capital president Nick Gonzalez brought the deal to Centerline’s Mortgage Banking Group, which is a Fannie Mae DUS lender. Neither GRC nor Centerline responded to requests for comment before publishing time.

"Vic Clark, Colin Cross, and the Centerline Capital team worked tirelessly and seamlessly to deliver a commitment in 23 days and close the deal in 37,” Gonzalez said in a statement. “Their timely efforts helped my client acquire the project quickly and enabled them to begin influencing the pre-leasing efforts for the coming school year.”

University Suites offers a clubhouse with kitchen, two tanning beds, a pool table, lounge area with fireplace and big-screen TV, 24-hour computer lab, and 24-hour fitness center, as well as an outdoor pool, sand volleyball court, and basketball court. The student housing facility is located about one mile south of East Carolina University, and sits on the ECU campus bus route.

"University Suites is a well located student housing property that draws from students attending East Carolina University," Clark, managing director, Originations at Centerline, said in a statement. "We were pleased to partner with GRC Capital to provide Realco Capital Partners the funding they needed to complete their fourth student housing deal.”