NEW YORK CITY — Square Mile Capital Management LLC (“Square Mile Capital”) today announced the closing of construction financing for the Hub on Campus II, a to-be-built 577-bed student housing building located at the University of Southern California in Los Angeles, California. Square Mile Capital served as the mezzanine lender with PacWest Bank as the senior lender.
TSB Capital Advisors brokered the transaction on behalf of Core Spaces.
Hub on Campus II will be located less than a half mile north of campus within USC’s off-campus housing on 28th St. between Figueroa and Flower at the entrance to Greek Row.
Construction is slated to start next month and be completed in time for the 2023–24 academic year.