Trinitas and Harrison Street break ground on 278-unit, 699-bed student housing property near University of Kentucky

Trinitas Ventures LLC, began constructing a new urban infill redevelopment. The Collegiate on Angliana, a 278-unit, 699-bed student housing property with an anticipated opening date of August 2013, will serve students attending the University of Kentucky (UK). The Collegiate is located one mile northwest of UK's main campus and is a short walk to downtown Lexington and Rupp Arena. The student housing property integrates Trinitas' award-winning large unit designs and townhouse-style apartment features with the convenience and atmosphere of modern living. The student housing facility provides a number of amenities including a 6,500 s/f clubhouse, pool, hot tub, basketball, bocce, as well as sand volleyball courts, fitness center, and sundeck. Equity financing has been provided by a joint venture between Trinitas and Harrison Street Real Estate Capital (HSRE). The project represents the fourth development for the Trinitas/HSRE Capital partnership. Brian Thompson, senior vice president at HSRE stated, "We are pleased to further expand our relationship with Trinitas. We have had tremendous success with Trinitas and we are excited to be investing with them in the dynamic UK market. They are professionals in every sense of the word and we look forward to growing the platform over future cycles." Construction financing has been provided by Key Bank. This is the first construction loan financed by Key Bank for Trinitas' student housing developments. Loren King, Chief Operating Officer of Trinitas stated, "We are excited to begin our relationship with Key Bank and continue our partnership with HSRE. By expanding our access to debt capital and combining it with our consistent, successful association with HSRE, we have positioned ourselves for success on present and future student-housing opportunities."