JLL Capital Markets facilitated the sale and financing of Campus Circle, a 181-unit, 524-bed student housing community in Urbana, Illinois.
JLL represented the seller, an affiliate of Blue Vista Capital Management, LLC. The buyer and borrower was Horizon Realty Advisors. JLL also worked on behalf of the borrower, to secure the five-year, fixed-rate loan through Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo Lender.
Campus Circle, situated at 1010 W. University Ave., 0.10 miles from campus, offers unparalleled convenience for students. Its location puts it within easy walking distance of the College of Engineering and the University’s Main Quad.
The University of Illinois Urbana-Champaign (UIUC), has experienced significant growth with enrollment increasing by nearly 11,000 students in the past eight years, reaching over 56,000 students. As the second-largest enrollment among Big 10 main campuses, UIUC is renowned for its academic strength, research capabilities and diverse student body. The Urbana-Champaign student housing market reflects this growth, with high demand evidenced by a 95% occupancy rate and only 32,448 purpose-built beds available, indicating substantial unmet demand in the market.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Director Scott Clifton, Director Kevin Kazlow and Associate Jack Goldberger.
