Natixis Lends $20M for Acquisition of Pennsylvania Student Housing Portfolio


Natixis provided a private investment arm of Hong Kong-based Beacon Assets with a roughly $20 million loan to facilitate the $30 million acquisition of a student housing portfolio around Lehigh University in Bethlehem, Penn., HFF announced. The brokerage represented the buyer in the transaction.

The five-year, fixed-rate acquisition loan totaled $19.5 million and the purchaser acquired the 71-building portfolio from Philadelphia-based Campus Apartments, a student housing developer and manager, clear of any existing debt, according to previous information from HFF regarding the sale.

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Lehigh University’s total student population sits at just over 7,000, according to information from the university’s website, and HFF said the private school is expecting a 25 percent in enrollment over the next seven years. This bodes well for the 383-bed portfolio, which has registered a 99 percent combined occupancy rate over the last two academic years, according to information from HFF.

Officials at Campus Apartments were not immediately available for comment on the transaction. A representative for Natixis did not immediately respond to a request for comment, and officials at Beacon Assets could not immediately be reached.