•Cash-in construction loan take-out secured by a newly constructed 390-bed, Class A student housing property located near Texas State University.

• Property featured a best-in-class amenity package including a resort-style pool.

• Construction suffered a series of setbacks delaying delivery to the market; low occupancy at the time of closing.

• Committed and experienced Borrower navigated through severe challenges throughout the development process and continually supported the property.