Northmarq’s Chicago Debt + Equity team facilitates $16.779M refinance of UIUC student housing portfolio

CHAMPAIGN, Ill. — Northmarq’s Chicago Debt + Equity team led by Managing Director Brett Hood and Vice President John Heitmann secured $16.779 million in financing for two student housing assets at the University of Illinois Urbana-Champaign. 

The properties — 54 E. John St. and 103 E Healey St. — are 65-bed and 108-bed communities, respectively, located in the Campustown South neighborhood adjacent to campus. 

The loans, totaling $6.397 million and $10.382 million, were arranged on behalf of Green Street Realty through Freddie Mac and each feature five-year terms with partial interest-only payments.

Both properties are Class-A mid-rise student housing communities, 100% occupied by UIUC students for the 2025-26 school year. 54 E John St offers modern studio and one-bedroom floorplans, featuring quartz countertops, stainless steel appliances, in-unit laundry, and a contemporary furniture package. 103 E Healey St offers similar high-end amenities, as well as two-bedroom floorplans.

The properties are within walking distance of one another and situated in the popular Campustown South submarket, which boasts superior fundamentals, including sub-1% vacancy. Green Street Realty, headquartered in Champaign, is one of the largest developers and owner/operators in the market. Strong occupancy and operations at both assets, combined with Green Street’s local expertise, enabled a smooth execution through Freddie Mac.