Madison Realty Capital Loans $62 Million For Florida Luxury Student Housing

The developers behind University Pointe, a luxury student housing complex in Davie, Florida, secured a $62 million loan from Madison Realty Capital to refinance and finish construction.

Located at 6350 Griffin Road, the six-building complex sits between the Florida Turnpike and University Drive, totaling 781 beds and 597,205 Sq Ft, of which 31,000 Sq Ft. is devoted to retail. The project opened in 2019.

The developer’s Nob Hill Partners, led by Michael Konig, and Broward Student Housing LLC had first secured a $45 million loan from Guggenheim Credit Services in 2019, of which $42.2 million remains

New York-based Madison Realty Capital is taking over the controls from Guggenheim, loaning $58 million as a part of a mortgage and $4 million as a mezzanine loan. From the total, $8 million will progress towards completing the second phase of the development.

University Pointe consists of one-, two-, three- and four-bedroom units, with washers and dryers in every apartment, and offers shuttles to local universities.

Following its founding in 2004, Madison Realty Capital has achieved more than $15 billion in transactions across the country and now runs about $6 billion in assets.

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