Clarion Partners and Blackstone Real Estate Co-Originate Two Senior & Mezzanine Loans for Boulder Student Housing Properties

Clarion Partners Real Estate Income Fund Inc. (CPREIF) has provided mezzanine loans subordinate to two senior loans originated by Blackstone Real Estate for the refinance of two student housing assets owned by Brickstone Partners and Daniel Otis in Boulder, CO that were recently valued at more than $180 million. The senior loans were arranged by KeyBank Real Estate Capital.

The two properties, also referred to as the Brickstone Boulder portfolio, collectively consist of 312 units and 463 beds and are within walking distance of the University of Colorado Boulder (CU Boulder) campus. Renovated in 2015 and 2016, the properties are adjacent to the CU Boulder campus, have views of the Rocky Mountains, and are proximate to the Pearl Street Mall and Downtown Boulder. Both properties feature modern interior unit finishes, including stainless steel appliances, quartz countertops, oversized closets and wood-style flooring.

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