Core Spaces, Schenk Realty, Kayne Anderson to build largest student housing in Knoxville, Tenn.

Core Spaces, Schenk Realty and Kayne Anderson Real Estate (KA Real Estate) have plans to develop Hub Knoxville, a multi-tower student-housing project with nearly 2,000 beds in Knoxville, Tenn.

The joint venture recently closed on $233.3 million construction loan to finance the development of Hub.

“Today’s market conditions present unique challenges for a project of this scale. We’re thrilled to partner with Schenk Realty and continue our long-standing equity relationship with Kayne Anderson, and to have worked with this dynamic group of lenders to deliver the most exciting project yet at the University of Tennessee,” said Andrew Wiedner, executive managing director and chief capital officer at Core Spaces. “We’ve had our eye on Knoxville for years and we’ve worked closely with the city to create an