Fields of Bluegrass

Bridge Loan

537-Bed Student Housing

Lexington, KY

Highland negotiated a $13,150,000, 70% LTC, 2-year bridge loan for the acquisition of Fields of Bluegrass, a 171-unit, 537-bed student housing property less than one mile from the University of Kentucky in Lexington, Kentucky. Highland arranged the financing on behalf of Orange County-based student housing investor Academy West Investments, who will be purchasing the asset out of foreclosure. Roughly $2,500,000 of proceeds will be held back for significant interior and exterior capital improvements to reposition the asset.

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