Champaign, Ill. — JLL has arranged the sale of and acquisition financing for Illini Tower, a student housing community located near the University of Illinois Urbana-Champaign. The community offers 725 beds in 207 units. Scott Clifton and Stewart Hayes of JLL represented the undisclosed seller in the transaction. Doug Opalka, Jackson Finch and Jayme Nelson, also of JLL, secured financing for the acquisition on behalf of the undisclosed buyer.
Chicago — CA Ventures’ in-house purpose-built student accommodation (PBSA) management arm, Novel Student, has been awarded management of five student housing communities located across England and Scotland. Together, the five properties total 1,823 beds, expanding Novel’s operations to more than 2,800 beds across nine properties. New assignments include Hillside House in Sheffield, England; Bridle Works in Glasgow, Scotland; Silk Mill in Edinburgh, Scotland; Riverside in Canterbury, England; and Altura in Birmingham, England. The Chicago-based company’s European team also plans to deliver 1,000 beds across Leicester, Edinburgh and Belfast ahead of …
Chicago and Oak Brook, Ill. — Core Spaces and Inland Private Capital Corp. (IPC) have formed a joint venture targeting ground-up and substantially complete off-campus student housing opportunities across the U.S. The partnership marks the beginning phase of Oak Brook, Illinois-based IPC’s strategic plan to expand its student housing footprint, which currently includes 3,800 beds across seven university markets. Chicago-based Core Spaces currently owns or operates 44 student housing communities totaling over 22,000 beds across the country with a pipeline of over 40,000 beds in various stages of development and …
Chicago — Mark Zikra has joined global advisory firm August Hill as head of innovation. In his new role, Zikra will lead the Chicago-based firm’s innovation services team in delivering best-in-class technology implementation and strategy to its global network of partners. Before joining August Hill, Zikra served as senior vice president of technology and innovation for CA Student Living, where he designed and built the firm’s global technology and innovation infrastructure. He led a variety of integrated teams, including the company’s innovation lab, software services, technology services and reporting. Prior …
Chicago — CA Ventures has sold an 897-bed student housing portfolio located in the U.K. for a combined £161 million. The properties were acquired by funds managed by Apollo Global Management. Dispositions include Hillside House, a 250-bed community serving students attending Sheffield University and Sheffield Hallam University in Sheffield, England; Bridle Works, a 422-bed community located near the University of Strathclyde, University of Glasgow and Glasgow Caledonian University in Glasgow, Scotland; and Silk Mill, a 225-bed community serving students attending Edinburgh Napier University and the University of Edinburgh in Edinburgh, Scotland. PGIM Real …
Champaign, Ill. — Marcus & Millichap has brokered the $150 million sale of a 50-property student housing portfolio located near the University of Illinois Urbana-Champaign. Together, the buildings offer 1,100 units and total 863,961 square feet of space. The portfolio ranges from single-family rental homes to traditional student housing communities, with the newest property built three years ago. Scott Harris and Bryan Kunze of Marcus & Millichap represented the seller, Campus Property Management, and procured the buyer, Fairlawn Capital, in the transaction.
Austin, Texas — Newmark has brokered the sale of a four-property portfolio of mid-rise student housing properties totaling 1,441 beds. The properties are situated adjacent to public universities in the Southeast and Illinois. Ryan Lang, Jack Brett, Ben Harkrider, Tim McKay, Debra Corson, Blake Pera and Dean Smith of Newmark represented the seller, Rael Corp., in the transaction. The sales price and the buyer were not disclosed. The properties include Gather Illinois, which is located near the University of Illinois at 410 North Lincoln Ave. in Urbana, Illinois; Gather Uptown …
Chicago — Interra Realty has brokered the $5.2 million sale of The Loyola, a newly-constructed, four-story student housing community located in Chicago’s Rogers Park neighborhood. The property offers 49 beds in 11 units alongside 1,500 square feet of ground-floor retail space adjacent to the Loyola University Chicago Lake Shore campus. Shared amenities include a community room, fitness center and rooftop deck. Craig Martin of Interra represented the undisclosed seller and the buyer, a local investor specializing in operating student housing communities, in the all-cash transaction. The community was 25 percent …
Chicago — Commercial real estate firm Vestian has announced the formation of its Higher Education and Public Institutions group. Leading the practice in Cleveland will be industry veteran Kevin Slesh. Prior to joining Chicago-based Vestian, Slesh spent 15 years leading strategic real estate efforts at Case Western Reserve University, focusing on economic and community development. “We are thrilled to have Kevin lead our new Higher Education and Public Institutions practice group,” says Michael Silver, chairman of Vestian. “His deep expertise in consulting on diverse educational, mixed use, retail and multifamily developments …
Chicago — The Scion Group has announced the acquisition of 32 student housing properties totaling 20,000 beds. Acquisitions were completed in separate transactions through investment partnerships with a Brookfield private real estate fund and with PGIM Real Estate. Twenty-seven of the communities were acquired through the joint venture partnership with Brookfield. Twenty-five of the properties were acquired from Harrison Street, as previously reported by SHB. “The communities we’ve added in just a few months represent nearly $1.7 billion of transaction value, as well as the establishment of new partnerships with …
