JCM Opportunity Fund announces the closing of a senior construction loan for Edge College Hill in Providence, RI.
The JCM Opportunity Fund is pleased to announce the closing of a senior construction loan for Vision Development in the amount of $42,500,000. This loan amount combined with the previously invested equity and applied tax credits has yielded an aggregate investment of $57,000,000. This capital stack will be used to construct a brand new, Class A off-campus student housing facility called The Edge on College Hill. This purpose-built complex will serve the housing needs of students attending Brown University and the Rhode Island School of Design. The facility will be open to students during the Fall 2018 semester.
Please visit www.edgecollegehill.com for additional details about the development.