CapitaLand Receives $ 43 Million Loan for Atlanta Student Community

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Paloma West Midtown

CapitaLand has secured $ 42.5 million in funding for Paloma West Midtown, a 525-bed student residence in Atlanta. PGIM Real Estate provided a loan maturing in 2028, public records show.

CapitaLand acquired the 2019-built facility in March from The Preiss Co., according to Yardi Matrix. for $ 93.7 million. The asset is the property of the investor. purchase of the first student housing… CapitaLand, one of the largest diversified real estate groups in Asia, acquired properties through Residence Trust, its wholly owned subsidiary.

The student housing stock of 183 apartments located at 800 Marietta St. NW has a variety of floor plans ranging from 474-square-foot studios to five-bedroom apartments up to 2,006 square feet. Pet-friendly facilities include a fitness center, swimming pool, games room, rooftop lounge, sun terrace and study rooms.

The two-building complex is located on the southwest side of the Georgia Institute of Technology’s main campus, 2 miles from Georgia State University. Paloma West Midtown is located on the edge of the historic Ming Street area, which is full of restaurants and shops. The MARTA North Avenue Transit Station is approximately 1 mile east of the hotel.

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