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Student Housing

Arbor’s DUS Student Housing product provides attractive terms and competitive prices for the purchase or refinance of properties that, because of construction and location, specifically cater to a student tenant base that may or may not be readily convertible to conventional multifamily housing.

Loan Amount $750,000 minimum.
Term 5 – 30 Years
Amortization Up to 30 years.
Minimum DSCR 1.30
Maximum LTV Up to 75%
Rate Structure Fixed and adjustable rate options available.
Eligible Properties Dedicated Student Housing – Specifically cater to a student tenant base. Not readily convertible to conventional multifamily housing. Must be greater than 80% student occupied. Requires 12-month leases and parental guarantees. Food services not permitted. 20% of tenants are allowed to have lease terms of less than 12 months. Student Housing – Must be between 40% – 80% student tenancy.
Occupancy Requirement Minimum 90%.
Tax & Insurance Escrows Monthly deposits required. May be waived if certain criteria are met.
Replacement Reserves Underwritten at a minimum $250 per unit per annum. Must be funded.
Recourse Non-recourse with standard exceptions for fraud and misrepresentation.
Commercial Space Eligible
Student Population Requirement Minimum 10,000 students for dedicated student housing.
Required Reports Appraisal, Property Condition Assessment, Phase I Environmental.
Prepayment Yield Maintenance.
Assumable Subject to approval and 1% fee.
Subordinate Financing Not allowed.
Supplemental Loans Eligible for secondary financing after 12 months.
Pricing Tiered Pricing Matrix. More favorable terms available for higher DSC and lower LTV.
Rate Lock 30- to 180- day commitments. Early/extended rate lock options available.
Application Deposit $12,500. Covers all estimated underwriting costs (including processing fee).
Processing Fee $3,000 non-refundable.
Origination Fee Minimum 1%. Par pricing available.
Legal/Closing Fee Arbor’s Counsel Fee to be determined at application.
Good Faith Deposit 2% of loan amount, refundable at closing.


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