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CBRE CAPITAL MARKETS ARRANGES $18.5 MILLION LOAN FOR STUDENT HOUSING PROPERTY IN LEXINGTON, KY

CBRE CAPITAL MARKETS ARRANGES $18.5 MILLION LOAN FOR STUDENT HOUSING PROPERTY IN LEXINGTON, KY

Lexington, KY – December 14, 2011 – (RealEstateRama) — CBRE Capital Markets arranged an $18.5 million loan via Freddie Mac for the purpose of taking out bank construction financing on Red Mile Village, a 537-bedroom Class A student housing property near the University of Kentucky in Lexington, Kentucky. The 10-year fixed rate loan was arranged on behalf of RCH Development, Inc. based in Jackson, Missouri. Terms of the loan include a sub-5% interest rate, 75% loan- to-value and a 1.35x DSCR.