JLL Capital Markets arranges sale of 656-bed Bixby community in thriving Georgia college market
News release
13 January 2025
Premier student housing asset near Kennesaw State University changes hands
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DALLAS, Jan. 13, 2025 – JLL Capital Markets announced today that it has arranged the sale of Bixby Student Housing community, a 656-bed student housing community serving Kennesaw State University in Kennesaw, Georgia.
JLL represented the seller, Alden Street Capital.
Bixby, located at 3061 George Busbee Pkwy NW, offers a prime location just 0.25 miles from the Kennesaw State University campus. Completed in 2020, this luxury student housing community features 179 units with a mix of studio to five-bedroom floor plans. The property boasts high-end amenities including a rooftop skydeck overlooking Fifth Third Stadium, a resort-style pool, state-of-the-art fitness center and multiple study spaces.
The student housing community has demonstrated strong performance, achieving 98% occupancy for the 2024-2025 academic year with year-over-year rent growth. This success is backed by Kennesaw State University's robust enrollment growth, which reached a record 47,845 students in Fall 2024, marking the sixth consecutive year of expansion.
Bixby offers modern, fully furnished apartments with premium features such as 11-foot ceilings, stainless steel appliances, quartz countertops and private bedrooms with bed-bath parity. The property's 656 beds are spread across various unit types, catering to diverse student preferences.
JLL Capital Market’s Investment and Sales Advisory team representing the seller was led by Managing Directors Teddy Leatherman and Scott Clifton, Director Kevin Kazlow and Associate Jack Goldberger.
"Bixby represents the premier student housing offering in the Kennesaw market," said Leatherman. "The property's exceptional performance, coupled with Kennesaw State University's consistent enrollment growth, generated strong interest from investors. This transaction underscores the continued demand for high-quality student housing assets in thriving university markets."
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, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Alden Street Capital
Alden Street Capital, founded in 2015, is a real estate investment company specializing in acquiring and operating student housing properties across the United States. The firm focuses on investing in projects that require capital and asset level expertise, having contracted or acquired 23 assets representing approximately 13,500 beds. With senior principals who have collectively invested more than $1.0 billion in equity capital across various asset classes throughout their careers, Alden Street Capital brings significant experience to its growing portfolio.