Affinius Capital Provides $81M Construction Loan for Arizona State Student Housing

Fields Holdings has secured $81.2 million to finance the construction of the Samuel, a 14-story student housing property that will boast 224 units on Arizona State University’s main campus in Tempe, Commercial Observer can first report. 

Affinius Capital provided the construction financing, while CBRE’s Scott Williams arranged the transaction. 

Affinius Capital Senior Vice President Tyler Figley described the Samuel in a statement as a “high-quality” student housing property that sits on a prime location within the sprawling Arizona State campus. Figley said the apartment complex will likely “capture demand” from the growing enrollment at ASU, which currently has roughly 56,000 students in Tempe. 

“We look forward to working with Fields Holdings, which has the experience to execute on this caliber of project,” he added. 

Located at 706 South College Avenue near Downtown Tempe, the Samuel will deliver 408 beds and also feature 8,500 square feet of ground-floor retail space. The units will be organized as studios to three-bedroom apartments, and the building will include a swimming pool, a basketball court, an outdoor courtyard, a fitness center, and several lounges with media spaces for students to access 

Fields Holdings did not respond to requests for comment.

Brian Pascus can be reached at bpascus@commercialobserver.com.