Gateway Lofts

Lansing, MI

Student Housing - Acquisition

Gateway Lofts

STUDENT HOUSING - ACQUISITION

ACRES Capital has funded a $30.5 million first mortgage to finance the acquisition of Gateway Lofts, a student-oriented multifamily community with ground-floor retail in Lansing, Michigan (the “Property”).

• Built in 2021
• 181 units across a five-story residential building totaling 130,527 net residential square feet
• 9,334 square feet of ground-floor retail

The unit mix includes studios, one-bedrooms, and two-bedrooms, with in-unit washers/dryers and premium finishes. Community amenities include:

• Fitness center
• Clubhouse
• Game room
• Coffee bar
• Bike storage on each floor
• Conference room
• 204 surface parking spaces

The Property is 0.7 miles from Michigan State University and near a CATA public shuttle stop, allowing students to commute easily through the large MSU campus.

$31 Million

Loan Amount

Acquisition Loan

Loan Product

“Gateway Lofts is a high-quality, near-campus asset in a market with strong student housing fundamentals. Our financing will support Vesper’s plan to align leasing with the academic calendar, complete targeted improvements, and further stabilize the asset.”

- Mark Fogel

ACRES Chief Executive Officer and President

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ACRES Capital, LLC (“ACRES”) is an SEC-registered investment adviser with an office in Uniondale, New York. ACRES and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC-registered investment advisers by those states in which ACRES maintains clients. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability.