Dedicated Student Housing 

Pillar Multifamily Dedicated Student Housing Product offers a customized solution to financing student housing.

Benefits of Pillar Multifamily Dedicated Student Housing Product

Borrowers want:	Dedicated Student Housing Product delivers:
Recognition of the unique nature of student housing	A customized product that takes into account the specialized nature of the student housing market.
Flexible financing terms	The full range of Pillar Multifamily financing solutions, including Supplemental Loans and Structured Transactions.

Eligible Properties
Existing, stabilized properties that, because of construction or location, specifically cater to a student tenant base and are not readily convertible to conventional multifamily housing.

These properties have undergraduate or graduate students comprising at least 80% of their tenant base and may have been either specifically constructed as a student property or have been built as a conventional multifamily asset and function as dedicated student housing.

Properties should be located at a university with at least 10,000 students, the majority of which are full time, and should be located within two miles of campus or on a university sanctioned bus line.

Food Service
Not Permitted

Eligible Borrowers
Pillar Multifamily provides single and multi-asset solutions for strong operators with a proven track record in student housing.

Loan Term
Maximum term is 10 years.

Amortization
25 years. Exceptions may be available on a case-by-case basis.

Maximum LTV
75%

Minimum DSCR
1.30x

Minimum Vacancy and Collection Loss
10%

12 Month Leases
Required with parental guarantee or equivalent credit for employed students.

Forward Commitments
Not permitted. Exceptions may be available on a case-by-case basis.

Rate Lock
The Extended Rate Lock feature is available for Dedicated Student Housing loans.

Other Parameters
Follow standard DUS™ guidelines.

Forward Pricing is available for this product.

Contact

To learn more about the Dedicated Student Housing product borrowers should contact Mark Van Kirk, Chief Operating Officer at (703)283-9700, or Robert Russell, Chief Production Officer at (917)767-7274 at Pillar Multifamily.