The Grove Fayetteville 1 The Grove Fayetteville 2 The Grove Fayetteville 3 The Grove Fayetteville 4
Situation/Challenges
  • Property consists of 9 buildings with 232 units near the University of Arkansas
  • 68% leased at closing
  • Sponsor began strategic corporate repositioning over a year ago which resulted in lack of focus on leasing up the property
Solutions/Highlights
  • Leasing velocity has improved for current academic year and is on track to reach full stabilization
  • Sponsor has appointed a new management firm with student housing experience to operate the asset
  • Non-recourse
  • 3-year term plus extensions