Students goto Rutgers. Not sure how many are non student tenants. The area is down market hence the ''economic development district'' designation. Does that involve tax breaks or cash infusion. Interest rates were far lower pre-2019. A roll over might devastate them?
If I recall correctly, the whole housing thing was made possible via a new or relatively new government program. I'll have to go back a few months and see if I can find it. I do remember that it was related to student housing. So I don't think this is strictly a real estate as usual deal.
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