iBorrow, a nationwide private direct lender for commercial real estate, has provided an $8.5 million loan secured by a 114-townhome community property in Albany, Georgia. The Property is centrally located across the street from Albany State University (ASU) campus with 216 student housing beds and is the only purpose-built student housing facility serving the main campus of the University.
Brian Good, iBorrow CEO, said, “We are excited to provide financing for this well-located student housing Property. This asset is an indispensable resource for the University and is located in the heart of Albany, near numerous dining and entertainment options. The market demand for student housing continues to grow which we believe makes this property essential and positions it for success. We were happy we could meet borrower’s demands for a flexible financing option and believe strongly in their ability to execute their business plan.”