Insights > Deals
Terrazul takes the US$180 million refinancing from Corebridge
22 September 2026 | Refinancing | US | 1,201 beds | Operational
The co‑GP investment supports three student housing projects with a combined development value of more than US$300 million.
Key details
Asset type | Operational |
Location | Sweetwater, US |
Capacity | 1,201 beds |
Borrower 1 | Adam America Real Estate |
Borrower 2 | JW Capital Management |
Lender | Corebridge Institutional Investment |
Value | US$180 million |
Adviser | Walker & Dunlop |
Source: Citybiz
Adam America Real Estate and JW Capital Management have secured a US$180 million refinancing for Terrazul, a 932‑unit, 1,201‑bed community next to Florida International University. Corebridge Institutional Investment provided the loan, which Walker & Dunlop arranged.
Completed in 2024, the property was 98% occupied at the time of the refinancing. The facility replaces the construction loan and also provides cash‑out proceeds to the owners.
Strategic context
The refinancing moves Terrazul from construction debt to longer‑term institutional capital after a rapid lease‑up. It also demonstrates lender appetite for large, stabilised student housing assets beside major universities, while giving the owners liquidity without selling the property.
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