WASHINGTON, D.C. – JLL Capital Markets announced today that it closed on the sale of The Shay, a 245-unit, best-in-class multi-housing community located in the highly sought-after Shaw neighborhood of Washington, D.C.

JLL represented the seller in the transaction.

Built in 2015, The Shay features studio, one- and two-bedroom units with floor-to-ceiling windows, nine-foot ceilings, stainless steel smart appliances, custom cabinetry and quartz countertops. Community amenities include a heated pool with sundeck, two landscaped rooftop decks with seating and grills, catering kitchen and dining area and a fitness center.

Situated at 1924 8th St. NW, the property is located at the confluence of Shaw and the U Street Corridor at the intersection of 8th Street and Florida Avenue. The Shay is just three blocks from the Shaw-Howard University and U Street Metro Stations. Residents benefit from premier walkability to all area amenities, as well as several grocers. Additionally, it is within one mile from over 100 million square feet of downtown office space and 2.5 million square feet of retail, which includes the top restaurants, bars and entertainment venues.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Robert Jenkins and Bret Thompson.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

SEATTLE – JLL Capital Markets announced today that it has arranged the acquisition financing for 303 Flats, a Class A, 138-unit / 431-bed, mid-rise student housing community located at the University of Tennessee in Knoxville.

JLL represented the borrower, Horizon Realty Advisors, to secure a five-year, fixed-rate loan through Northwestern Mutual.

Completed in the fall of 2018, the property offers a mix of one-, two-, three- and four-bedroom units with bed-bath parity. The units feature modern kitchens with granite countertops, stainless steel appliances, luxury vinyl plank flooring, contemporary furniture, washers and dryers, high-speed internet, 50-inch televisions, smart locks and large walk-in closets. The property’s luxurious amenity package includes a resort-style pool, a 24-hour fitness studio, yoga studio, outdoor kitchen and grills, group study and computer rooms, business center with free printing, bike storage, pet wash stations and reserved parking.

303 Flats is located less than one mile from the University of Tennessee at 303 W. Blount Ave., giving students the option to walk, bike, drive or take public transit to campus. Situated across the Tennessee River from Neyland Stadium on the east side of campus, the property’s location allows access to nearly any location on campus within a 10-minute drive, including the Student Union, VolShop, McClung Plaza, Thompson-Boling Arena, College of Nursing, College of Engineering and more. Adjacent to the property is Henley Street Bridge, which provides easy connectivity between the University of Tennessee and Downtown Knoxville.

The JLL Capital Markets Debt Advisory team was led by Managing Director Jake Wisness, Director Kaden Eichmeier and Analyst Bill Maloney.

“We are excited to have represented Horizon Realty Advisors on this assignment,” Wisness said. “All partners in this transaction worked tirelessly to navigate the current volatility in the debt capital markets. Although there is some fragmentation, this marketing process clearly demonstrated ample liquidity remains for multi- and student-housing. Through a competitive process, HRA secured best-in-market loan terms that will help set them up for success with their acquisition of 303 Flats.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

SEATTLE – JLL Capital Markets announced today that it has arranged the acquisition financing for 303 Flats, a Class A, 138-unit / 431-bed, mid-rise student housing community located at the University of Tennessee in Knoxville.

JLL represented the borrower, Horizon Realty Advisors, to secure a five-year, fixed-rate loan through Northwestern Mutual.

Completed in the fall of 2018, the property offers a mix of one-, two-, three- and four-bedroom units with bed-bath parity. The units feature modern kitchens with granite countertops, stainless steel appliances, luxury vinyl plank flooring, contemporary furniture, washers and dryers, high-speed internet, 50-inch televisions, smart locks and large walk-in closets. The property’s luxurious amenity package includes a resort-style pool, a 24-hour fitness studio, yoga studio, outdoor kitchen and grills, group study and computer rooms, business center with free printing, bike storage, pet wash stations and reserved parking.

303 Flats is located less than one mile from the University of Tennessee at 303 W. Blount Ave., giving students the option to walk, bike, drive or take public transit to campus. Situated across the Tennessee River from Neyland Stadium on the east side of campus, the property’s location allows access to nearly any location on campus within a 10-minute drive, including the Student Union, VolShop, McClung Plaza, Thompson-Boling Arena, College of Nursing, College of Engineering and more. Adjacent to the property is Henley Street Bridge, which provides easy connectivity between the University of Tennessee and Downtown Knoxville.

The JLL Capital Markets Debt Advisory team was led by Managing Director Jake Wisness, Director Kaden Eichmeier and Analyst Bill Maloney.

“We are excited to have represented Horizon Realty Advisors on this assignment,” Wisness said. “All partners in this transaction worked tirelessly to navigate the current volatility in the debt capital markets. Although there is some fragmentation, this marketing process clearly demonstrated ample liquidity remains for multi- and student-housing. Through a competitive process, HRA secured best-in-market loan terms that will help set them up for success with their acquisition of 303 Flats.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

DENVER – JLL Capital Markets announced today that it has secured construction financing for The Hunter, a 214-unit, Class A multi-housing project located in Colorado Springs’ New South End neighborhood, one of the area’s fastest growing submarkets.

JLL worked on behalf of the borrower, a joint venture between Formativ and Argosy Real Estate Partners.

The seven-story development will be complete in late 2024. The studio, one- and two-bedroom units will feature modern interiors, full kitchens and in-unit washers and dryers. Common amenities will include a two-story tenant lounge with mountain views, golf simulator, pool and hot tub, fitness center, ample coworking space, bike storage, a year-round amenity deck, dog wash, above grade parking garage and more.

The Hunter will be situated at 225 E Cimarron St. within an Opportunity Zone. The property is just minutes from downtown Colorado Springs and proximate to I-25, as well as walkable to Tejon Streets’ acclaimed food and drink establishments and the recently built Weidner Field. Within a five-mile drive of the property is 14 million square feet of office space and 20 million square feet of retail space, demonstrating the area’s continued development.

The JLL Capital Markets Debt Advisory team was led by Director Rob Bova.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

NEW YORK – JLL’s Capital Markets group announced today that it has secured the $520 million capitalization for the development of Sackett Place and Society Brooklyn, an under-construction, two-tower, 21-story luxury waterfront mixed-use community with 517 multi-housing units and 10,000 square feet of retail in Gowanus, Brooklyn.

JLL worked on behalf of the borrower, a joint venture between Property Markets Group (PMG) and Carlyle, to arrange the $335 million construction loan, and also secured the project’s $165 million LP equity.

Situated at 267 Bond St. and 510 Sackett St. and slated to open in 2025, the towers are prominently positioned on the corner of Bond and Union Streets overlooking the Gowanus Canal and sitting within the Carroll Gardens neighborhood. The site is only four blocks from the Carroll Street Subway Station and Union Street Station, providing one-stop service to Manhattan in less than 15 minutes, and is less than one mile from Smith Street, Atlantic Avenue and Bergen Street, home to high street retailers, major financial institutions and notable dining establishments. Additionally, the residential community is a part of the Gowanus rezoning initiative for permanent affordable housing.

JLL’s Capital Markets Advisory Team was led by Senior Managing Directors Christopher Peck and Andrew Scandalios, Managing Director Peter Rotchford, Director Nicco Lupo, Senior Managing Directors Rob Hinckley and Jeff Julien and Vice President Jonathan Faxon.

“Developments with an affordable component continue to make sense to lenders seeking to deploy equity in a highly fractured market,” said Peck. “With its best-in-class sponsors and strong fundamentals, 267 Bond St. / 510 Sackett St. is the type of mixed-used venture that remains highly appealing to investors, and we are thrilled to have completed the transaction.”

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

DALLAS – JLL Capital Markets announced today that it closed the sale of Vue on MacGregor, a 117-unit / 347-bed student housing community near the University of Houston, the third largest university in Texas.

JLL worked on behalf of the seller, Trimont, LLC and procured the buyer, Axonic Properties, LLC.

Built in 2014, the 96.3% occupied property features fully furnished one-, two-, three-, four- and five-bedroom units ranging from 369 square feet to 1,128 square feet. The units include in-unit washers and dryers, stainless steel appliances and granite countertops. Community amenities include dedicated study rooms, a swimming pool, two fitness centers, a business center, free community-wide Wi-Fi and cable, dog park and prime views of Downtown from an upper view deck.

Situated at 4460 South MacGregor Way, Vue on MacGregor is 0.5 miles from the University of Houston campus and a 15-minute drive from downtown Houston, which features 52 million square feet of office space. The property is ideally set in a quiet enclave near MacGregor Park, a short walk or shuttle ride to classes and only a few miles from the light rail providing access to Downtown. Both Griggs Road Shopping Center and The Trail Shopping Plaza are a five-minute drive from the property. Additionally, residents have easy access to the greater Houston metro via nearby Interstate 45.

The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Managing Directors Teddy Leatherman and Scott Clifton, Director Kevin Kazlow and Analyst Danielle Rice.

“We are excited to expand our student housing portfolio in Houston, which is now a member of a power five conference starting this year,” said Jonathan Shechtman, Managing Principal at Axonic Properties.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.