Mosaic Investment Partners announces the $26.7 million refinancing of its 19-property, 245-bed portfolio near the campus of the University of Southern California (USC) in Los Angeles.
From its inception, Mosaic Investment Partners has acquired underperforming or undermanaged student housing properties as well as properties that could be repositioned for student housing. More recently, Mosaic Investment Partners has acquired properties where additional units can be developed.
Mosaic Investment Partners engaged Holiday Fenoglio Fowler L.P. (HFF) as its exclusive advisor to secure the five-year, fixed rate loan through a national bank.
Mosaic Student Communities, an affiliate of Mosaic Investment Partners, manages this 19-property portfolio which is located less than a half of a mile north and west of USC’s campus and is within walking distance to all of USC’s educational and recreational facilities. Additionally, the properties are located close to USC Village, which boasts a Trader Joe’s grocery store, Target and several fast-casual restaurants, in addition to academic space.
“Mosaic has invested well over $6 million in property renovations and higher-end amenities for its historic Craftsman and Victorian properties,” commented George Alva of Mosaic Investment Partners. “As a result, our pre-leasing and lease renewal rates have steadily increased every year. Our new lender recognized this value and structured our debt facility to address our current needs and future growth opportunities.”
To learn more about Mosaic and how they are helping USC students live in high quality off-campus student housing within a vibrant community, please visit www.livewithmosaic.com.
About Mosaic
Mosaic Student Communities is a fully insured property management company and California corporation, that manages over 60 properties and 725 student residents for Mosaic Investment Partners as well as for third-party clients. Mosaic Student Communities has a best-in-market leasing department and is considered a leading provider of off-campus student housing at USC.
Mosaic Investment Partners directs, manages and executes property acquisitions, debt and equity financings, and renovation and construction activity of student housing properties at USC.
Learn more at www.livewithmosaic.com.
Media ContactCompany Name: MosaicContact Person: Media ManagerEmail: Send EmailPhone: (323) 733-2258Country: United StatesWebsite: www.livewithmosaic.com
