StackSource, the online marketplace for commercial real estate (CRE) loans, arranged its largest financing deal to date – a $58,760,000 senior loan for a new off-campus student housing project at a major university in Texas. The deal brings StackSource’s all-time lending volume past $450 million.

Project financing and planning for this project began prior to the pandemic; the sponsor raised $15M in 2019. Amid the market uncertainty in 2020, the deal was delayed for several months until confidence restored in students’ ability to return to campuses. Today, there’s so much demand for student housing that some colleges are converting common areas into dorms, increasing the number of students per room, and even incentivizing students with perks like ski passes or cash if the student drops their bid to live on campus.

“Savvy CRE investors knew the student housing market would inevitably rebound, which became even more apparent with the boom in multifamily. Despite students’ rush to get out of the house and return to in-person learning, workforces remained primarily remote and business travel remained restricted,” said Beth Mercante, Senior Vice President – Business Development at StackSource. “StackSource’s online loan marketplace, combined with our in-house team of national capital advisors, were quickly realized as the most effective and efficient means for borrowers to source competitive loan quotes outside of local banks and relationship lenders.”

“Competitive interest rates and mounting demand for student housing created an enormous market opportunity for us,” said StackSource Founder and CEO Tim Milazzo. “We were fortunate to have more than 5 years in business with tons of product and business development success when the pandemic hit. We were ready to scale quickly and expand nationally – which we did. As of today, we’ve arranged 200 real estate loans across 33 states and we’re approaching $500 million in all-time lending volume.”

This deal follows several recent wins for the company. Over the last 12 months, StackSource’s lending volume exceeded $250 million and currently has more than twice that amount in its pipeline. In July, StackSource appointed CRE industry veteran Richard Caldwell EVP – Head of Originations. In June, StackSource arranged financing for a $33M land development package in Charlotte, Raleigh and Durham, North Carolina. In May, the company raised $2.6M via equity crowdfunding.

About StackSource

StackSource, founded in New York City, is a tech-enabled commercial real estate finance platform. The company connects investors who are developing or acquiring commercial properties with financing options like banks, insurance companies, and debt funds through a simple, transparent online process. StackSource is taking the best of commercial mortgage brokerage and updating it for the 21st century. Learn more at StackSource.com.