Holliday Fenoglio Fowler has secured $36.75 million in acquisition and bridge financing on behalf of Park Partners Residential. The funding, which was provided by Resource Real Estate, will be used for a 1,356 bed student housing portfolio serving the University of Florida in Gainesville. The firm will renovate and reposition the properties to compete against newer assets in the market. The two assets, Campus Club and Gateway at Glades, are located near Archer Boulevard. The University of Florida, a Tier One school, is one of the largest universities in the southeast with more than 50,000 students for the past 10 years. The HFF debt placement team was led by managing director Elliott Throne and associate director Brian Gaswirth. Throne says the resources will allow Park Partners to develop and reposition the student housing properties in order to make them become popular destinations for students attending the surrounding Gainesville schools.
