Gilbane, CBRE IM Land Financing for 352-unit, 702-bed, Zaya Student Housing Project; Webster Bank provided more than $63 million for this development

3/27/2025

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MHN

• Subcategory: MF: Student

• Tag: JV-Partnership | New Construction

• Additional Filters-Subcategory: MF: Midrise

• Company: Gilbane Development Company, CBRE Investment Management (CBRE IM), Webster Bank

A joint venture between Gilbane Development Co. and CBRE Investment Management is developing Zaya, a 352-unit, 702-bed student housing community in Gainesville, Fla. The partners obtained a $63.4 million loan from Webster Bank for this project, according to Alachua County public records.

Zaya is one of the six student housing properties involved in the joint venture’s formation. The partnership’s holdings also include three operational communities that are being recapitalized through a General Partner-led secondary and two other shovel-ready projects.