GRS Group recently provided transaction services on the $28.2 million Fannie Mae DUS loan for the acquisition of Northpoint Apartments in Rexburg, Idaho.
Northpoint is a 154-unit student housing property located directly across the street from Brigham Young University. Built in 2014, the 322,428-square-foot complex provides 1024 student beds. The property includes two separate structures for men and women’s housing. There is also a 42,428-square-foot amenities center and a six-story parking garage. On-site amenities include a private gym, theater, music rooms and community-sponsored activities, such as pizza parties and game nights.
Services provided by GRS Group included an environmental site assessment, property condition assessment, radon sampling, and zoning. GRS Group director, Steve Canty, spearheaded the services package on behalf of the firm’s client, Greystone.
About GRS Group:
GRS Group is a leading provider of commercial real estate (“CRE”) services worldwide. With offices across the United States, Europe, and affiliates around the globe, GRS Group provides local market knowledge with a global perspective for institutional real estate investors, occupiers and lenders worldwide. The GRS Group team has evaluated and advised on over $1 trillion in CRE transactions.