Student housing complex near University of Illinois Urbana-Champaign trades hands

CHICAGO, Jan. 10, 2025 – JLL Capital Markets announced today that it has 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.

"The sale of Campus Circle demonstrates the strong investor demand for well-located, high-quality student housing assets serving top-tier universities," said Kazlow. "With UIUC's growing enrollment and the property's market positioning, Campus Circle is well-positioned to continue its strong performance."

JLL Capital Market’s Debt Advisory team was led by Managing Director Jake Wisness, Senior Director Dan Kearns, Director Mike Brady, Associate Sam Tarter and Senior Analyst Bill Maloney.

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.

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Blue Vista’s experienced professionals have proven track records, long-term industry relationships and expertise across a wide array of property sectors, investment types, real estate and capital markets, and investment management processes. Since the firm’s inception in 2002, Blue Vista has invested over $12.7 billion in total capitalized value through institutional real estate vehicles focused on U.S. and Canadian real estate strategies.

Horizon is a rapidly expanding vertically integrated real estate operating company based in Seattle, with over 50 apartment communities under its ownership and operation across the United States. Ranked among the top 15 student housing operators, Horizon distinguishes itself through its vibrant culture, people-centric approach and innovative growth mindset. The company prioritizes employee development, offering continuous training and education to prepare its team members for future opportunities within the organization.