MINNEAPOLIS—Fountain Residential Partners LLC has secured about $41 million for the development of Metro Park East, a 194-unit student housing project here at the University of Minnesota – Twin Cities.

HFF arranged $29.5 million in construction loan financing and $11.6 million in joint venture equity for the project. The project will be located at 2635 Southeast Fourth Street in the Stadium Village neighborhood directly adjacent to the East Bank campus of the university. The complex is set to be complete by the fall semester of 2014.

Amenities at the 551-bed property will include fully-furnished units featuring granite countertops, stainless steel appliances, Wi-Fi throughout and 50-inch flat screen televisions, as well as a clubhouse consisting of a sports bar-styled game room, market-leading fitness center and cyber café with study rooms.