Webster Bank Supplies $43M Refi for Coastal Carolina University Student Housing

The fall 2025 semester may be winding down, but the financing demand for student housing certainly isn’t. 

Aptitude Development inked a $42.8 million loan to refinance The Pier Conway, a 564-bed student housing complex in Conway, S.C., serving Coastal Carolina University (CCU), Commercial Observer can first report. 

Webster Bank provided the loan on the heels of supplying a $46 million refi for another student housing asset in West Henrietta, N.Y., near Rochester Institute of Technology.

Arrow Real Estate Advisors negotiated both financings with a team led by Morris Betesh, Morris Dabbah and Louis Halperin. 

“We needed a partner capable of looking beyond enrollment figures and focusing on what actually drives long-term stability: CCU’s consistent growth, a best-in-class housing product and an institutional sponsor with an exceptional track record,” Betesh, founder and managing partner at Arrow, said in a statement. “Webster Bank saw the full picture, and that made all the difference.”

At 626 Highway 544 near the CCU campus and roughly 11 miles from Myrtle Beach, the 2020-built complex spans 267,596 square feet across three four-story buildings and 437 parking spaces. It has achieved year-to-year occupancy of 98 to 99 percent over the last four years, according to Arrow. 

Webster Bank and Aptitude Development did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.