BATON ROUGE, LA—An HFF team has arranged $19.5million in financing for Stirling Properties Inc.The loan was used to fund the purchase of Tiger Manor, a 287-unitstudent housing community serving students attending LouisianaState University here.

HFF senior managing director Kevin Mackenzie and associatedirector Jim Curtin negotiated on behalf of the borrower, aCovington, LA-based commercial real estate firm. NatixisReal Estate Capital LLC provided the debt, which carries afixed rate and 10-year term.

As GlobeSt.com previously reported, the 515-bedstudent housing complex traded for $24.25 million after acompetitive bidding process. Stirling Properties beat out 13 otheroffers on the 93% occupied community, located at 3000 July St. ablock away from campus. The seller was GRS PropertyManagement, based in Lake Worth, FL. In addition to thestudent housing component, Tiger Manor features 32 on-sitecondominiums sold to private owners during the condo boom of a fewyears ago. Yet that condo component discounted the asset’s cap rateby about 75 basis points.