| John Buck Co principal Rafael Carreira says that the student housing sector is becoming more appealing to private developers and lenders. There are strong demand fundamentals as students seek new residences with great food, semi-private baths, and fitness centers. More parents are willing to co-sign leases for their children, which gives developers and lenders comfort. As the economy recovers, lenders are more willingto finance student housing but require 35% to 50% equity and some recourse, says Rafael, who managed the development of Roosevelt University’s “Vertical Campus,” now in its first full academic year. Hear more from Rafael and other expert panelists at Bisnow’s Chicago Student Housing Summit, tomorrow, W Chicago – City Center. Register here! |
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