Seminole Financial Services Funds $19.451 Million Equity Investment for Student Housing Development located in Flagstaff, Arizona

Belleair Bluffs, FL – February 25, 2016 –

Seminole Financial Services announces today the closing of a preferred equity investment in the amount of $19.451 Million to fund the construction of a 232 unit (814 bed) purpose-built student housing development located in Flagstaff, Arizona, known as The Lofts of Flagstaff. The project is expected to be completed by August, 2017 in anticipation of the start of Fall 2017 classes.

 

The Lofts of Flagstaff is an off-campus development located in South Coconino County, 0.5 miles west of the edge of Northern Arizona University (“NAU”) campus, and 1.1 miles southwest of the center of the NAU academic campus, which enrolls approximately 23,134 students. The Project is approximately 140 miles north of Phoenix (at the intersection of Interstates 40 and 17), and just under 75 miles southeast of the Grand Canyon National Park.