PHOENIX, AZ - TSB Capital Advisors, the national leader in student housing and multifamily real estate advisory services, successfully arranged a floating-rate loan on behalf of Coastal Ridge Real Estate and Real Estate at Goldman Sachs Alternatives to refinance Commons at Sawmill, a 194-unit, 448-bed student housing property located near Northern Arizona University in Flagstaff, Arizona. Old National Bank provided the financing.
“Following a comprehensive renovation that touched all 194 units, the main common areas and the full exterior, Commons at Sawmill is well positioned to serve Northern Arizona University students for years to come,” said Harrison Reid of TSB Capital Advisors. “Old National delivered highly competitive terms and an efficient, seamless process from start to close, proving the right lending partner for Coastal Ridge and Real Estate at Goldman Sachs Alternatives on this refinancing.”
Delivered in 1992 and renovated in 2023, Commons at Sawmill offers a mix of studio, two-bedroom and four-bedrooms floor plans. The property is located pedestrian to the Northern Arizona University campus core, as well as popular local retail, including the historic Southside district and Aspen Place. Community amenities feature a renovated 24-hour clubhouse, fitness center, dedicated study lounge with conference space, and outdoor courtyard with grilling stations. Units offer modern finishes and contemporary appliance packages, including sleek stone countertops, washer and dryer, and wood-style flooring.
About Coastal Ridge Real Estate: Coastal Ridge is a vertically integrated real estate investment firm exclusively focused on student housing and multifamily across the United States. Founded in 2013, Coastal Ridge is headquartered in Columbus, Ohio, with offices in California and Florida as well as multi-disciplined employees in all regions of the country. The firm’s portfolio consists of over 45,000 units and student housing beds under management, with over $6.0 billion of managed assets.
About Real Estate at Goldman Sachs Alternatives: Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $645 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives, including private equity, growth equity, venture capital, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has more than $4.0 trillion in assets under supervision globally as of June 30, 2026.
Established in 1991, Real Estate at Goldman Sachs Alternatives is one of the leading investors in real estate with over $60 billion in capital invested since 2012 across the spectrum of investment strategies from core to opportunistic and credit. The global team invests across all sectors with deep expertise across the capital structure, in assets ranging from single properties to large portfolios, through senior mortgages, mezzanine debt and equity.
About Old National: Old National Bancorp is the holding company of Old National Bank. As the sixth largest commercial bank headquartered in the Midwest, Old National proudly serves clients primarily in the Midwest and Southeast. With approximately $74 billion of assets and $41 billion of assets under management, Old National ranks among the top 25 banking companies headquartered in the United States. Tracing its roots to 1834, Old National focuses on building long-term, highly valued partnerships with clients while also strengthening and supporting the communities it serves. In addition to providing extensive services in consumer and commercial banking, Old National offers comprehensive wealth management and capital markets services. For more information and financial data, please visit Investor Relations at oldnational.com
In 2026, Points of Light named Old National one of "The Civic 50" for the third consecutive year—an honor recognizing the 50 most community-minded companies in the United States—and also named Old National the Financials Sector Leader among nominated banks and financial services organizations.
About TSB Capital Advisors: TSB Capital Advisors is the national leader in student housing and multifamily real estate advisory services, and has offices in Phoenix, Arizona (headquarters), Paoli, Pennsylvania, and Dallas, Texas. Since its creation in 2009, TSB Capital Advisors has helped close over 550 deals and more than $80 billion in student housing and multifamily transactions.