属性

Loan Purpose

Refinance

Origination Date

10/21/21

Maturity Date

10/21/26

Original Balance

$13.6 Million

Original Balance per Bed

$152,804

Current Unpaid Balance

$13.3 Million

Current Unpaid Balance per Bed

$148,976

Fixed Interest Rate

3.87%

Default Rate

Interest Rate + 5.00%

报价截止日期

07/14/2026

描述

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller to arrange the sale of a $13.3 Million Student Housing Loan (the “Loan”). The Loan is secured by the deed of trust on nine student housing properties based in Los Angeles, CA (the “Property”, “Properties”, or “Portfolio”). In February 2026, the Loan became sub-performing for failing to maintain a DSCR of at least a 1.30x. As of June 2026, the Loan is sub-performing and has an unpaid principal balance of $13.3 million.

Serving the student population of the University of Southern California (“USC”), the Portfolio is comprised of nine student housing properties that total 89 beds across 24 units. Located within a convenient walking distance from campus, the Properties are also situated near prominent USC amenities including the USC Village, Fraternity Row, and other retailers and dining establishments. As of January 2026, the Property was 91% occupied.

The offering presents investors with the ability to acquire a loan at a favorable basis, with a potential path to ownership via an anticipated deed-in-lieu.

...

投资亮点

Barriers to Entry

The location that does not offer space for additional development as new supply in the market will be constrained by land-use regulations, environmental restrictions, and continued community resistance to new construction.

Path to Ownership

The Loan provides investors the ability to potentially step into the ownership position via an anticipated deed-in-lieu to be provided at closing.

Exceptional University

USC’s strong demand and selective acceptance rate of 11.7% is fueled by its top-30 academic ranking, tier-1 research opportunities, and elite athletics.