Eastman Residential secures $18.5m in financing for Coastal Carolina University student housing community
Eastman Residential announced that it has secured $18.5 million in acquisition financing for Bellamy Coastal, a 150-unit/480-bed, class A student housing property serving Coastal Carolina University in Conway, S.C.
JLL worked on behalf of the borrower to secure the five-year, fixed-rate acquisition financing through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital.
Built in 2018, Bellamy Coastal features multi-story townhome apartments with large living areas and both front and rear access leading to private backyard areas. Community amenities include resort-style pool, sundeck, beach volleyball court, 24-hour fitness center, computer lab, study area, hammock garden and in-apartment security systems.
The community is located at 300 Bellamy Ave., 0.5 miles east of CCU’s campus. Additionally, residents are just 10 miles away from downtown Myrtle Beach.