Location Ventures acquires Coral Gables, FL student housing scheme

Location Ventures has landed a $9.4 million Fannie Mae loan for a student housing complex in Coral Gables, Fla. The 24 unit asset, located at 800 S. Dixie Highway, recently underwent a $2.1 million conversion from a condominium. The four-story building features a mix of two and three bedroom units with common amenities including a swimming pool, controlled entry and covered parking. Built in 1982, the 25,000 sqf Orduna Court is in close proximity to the University of Miami. Hunt Real Estate Capital arranged the 10-year loan, of which the first five years is interest only.