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Seminole Financial Services Finances Mezzanine Loan for Student Housing Community at Texas A&M University
Belleair Bluffs, FL – August 28, 2015 – Seminole Financial Services announces today the closing of a preferred equity investment in the amount of $13 Million to fund the construction of a 186 unit (801-bed) purpose-built student housing community known as The Junction Cottages & Townhomes that will primarily serve students attending Texas A&M University in College Station, Texas. The “cottage” design style – a “new urbanism” style residential neighborhood situated on a 24-acre parcel adjacent to The Cottages of College Station – will include cottages of varying sizes, including stand-alone cottages, duplex cottages and townhouses, and will include an attractive amenity package to student tenants.
Originally opened in 1876 as the Agricultural and Mechanical College of Texas, Texas A&M was the first public institution of higher education in Texas. With current reported enrollment, Texas A&M is the fourth-largest university in the United States and the largest university in Texas. The university is designated as a land, sea and space grant institution and it ranks in the top-20 of American research institutions in terms of funding.