JLL Capital Markets arranged the sale and acquisition financing for 207-unit, 725-bed Illini Tower in Champaign, Illinois
News release
09 June 2022
Sale of student housing community near University of Illinois closes
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CHICAGO, June 9, 2022 – JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for Illini Tower, a student housing community located near University of Illinois Urbana-Champaign.
The JLL Capital Markets Investment Sales team representing the seller was led by Senior Directors Scott Clifton and Stewart Hayes. Representing the borrower, the JLL Capital Markets Debt Advisory team was led by Senior Managing Director Doug Opalka and Directors Jackson Finch and Jayme Nelson.
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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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Campus Living Villages
Campus Living Villages (CLV) is the world’s leading provider of on-campus accommodation. CLV operates and manages 27,800 beds across 54 Villages in Australia, the UK and USA. CLV has over 20 years’ experience funding, designing, developing, and managing industry-leading student accommodation facilities in strategic, on-campus locations for 32 partner universities. CLV provides an integrated 360-degree approach to student accommodation, spanning design, service, activation, sustainability, diversity and more. This delivers an exceptional on-campus student experience that allows students to have a seamless university life and universities to benefit from attracting the highest caliber of talent.
About IGIS
IGIS Asset Management is an independent global alternative investment manager, specialized in real estate and infrastructure. IGIS has been leveraging its extensive network to engage in domestic and overseas alternative investment opportunities through various investment strategies since it established in 2010, leading the firm to become the largest Korean real estate asset manager within five years of its establishment. The firm now has approximately $45.6 billion of assets under management as of December 31st, 2021. According to 2021 IREI Report, IGIS is ranked 2nd in the world by Asia-based real estate AUM and 39th in global real estate AUM.
About Timberline Real Estate Ventures
Timberline Real Estate Ventures (“TREV”) is a vertically integrated, operationally focused, privately held real estate operator and investment manager focused on the residential sector having acquired more than $2.7 billion of total investments its inception in 2012. TREV specializes in the development, acquisition, and operation of student housing, multifamily and mixed-use retail/residential communities through a combination of individual, portfolio and corporate equity and debt transactions.