ACRES funded a $35.325 million loan which will be used for the construction of a student housing rental development at the University of Louisiana. The property will consist of the following:
Lafayette is known as the hub city of southern Louisiana and is a regional leader and destination for retail, healthcare, technology, oil and gas, and education.
The sponsor specializes in commercial and multifamily real estate development. He proposed this development for both retail and multifamily purposes, and brands this as an attractive project.