Northmarq Student Housing secures $78.5M refinance for luxury student housing at University of Nevada, Reno

RENO, Nev. (Feb. 18, 2025) — Northmarq’s National Student Housing team, led by Justin Glasgow, alongside members of  the firm’s Debt + Equity platform, successfully arranged the $78.5 million refinance for The Dean Reno, a premier student housing community adjacent to the University of Nevada, Reno.

Built in 2023, the 773-bed luxury property offers exceptional student living, steps from the University of Nevada, Reno. The apartments are conveniently located near the academic core and athletic facilities and include smart technology, fully furnished and equipped apartments, cyber lounge, fitness center with fitness on-demand and yoga studio, scenic mountain views, grilling stations and more.

“We’re pleased to work with GMH and CRG on this important financing and are grateful for the trust they put in us to execute, especially within today’s challenging market environment,” Glasgow said. “A loan like this is a clear reflection of the quality of the ownership team and the continued confidence in The Dean Reno’s position at UNR, as well as the growth prospects of the market.”

Just steps from campus, The Dean Reno offers a blend of luxury, convenience and community. Residents enjoy:

• High-end interiors: Stainless steel appliances, granite countertops, hardwood-style flooring, private bathrooms, spacious closets and in-unit front-loading washer/dryer.
• Resort-style amenities: A sparkling pool and hot tub, two fourth floor courtyards, stylish lounge areas, outdoor workout space, outdoor firepit and entertainment area, podcasting/YouTube room, dedicated study spaces and a 24-hour fitness center.
• Smart living conveniences: A gated parking garage, Luxer package system, TULU smart rental store and on-site car share for hassle-free urban living.

Beyond luxury, The Dean Reno is Fitwel Certified, ensuring a healthier living environment through natural light, fitness-friendly design, and access to nutritious food options.

Northmarq Student Housing arranged financing on behalf of the borrowers, GMH Communities and CRG, to continue the execution of the business plan. The lender is Heitman, a global real estate investment management firm based in Chicago.