JLL Capital Markets arranged the sale of the 103-unit / 297-bed Oso Verde in Waco, Texas
News release
24 January 2024
Student housing community at Baylor University trades to new owner
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DALLAS, Jan. 24, 2024 – JLL Capital Markets announced today that it closed the sale of Oso Verde, a 103-unit / 297-bed student housing community located near Baylor University in Waco, Texas.
JLL worked on behalf of the seller, Bullseye Development, and Versity Invest, LLC, who acquired the asset.
Oso Verde features one-, two-, four- and five-bedroom, fully furnished units with 10-foot ceilings, vinyl plank wood flooring, walk-in closets, HD flat screen televisions, granite countertops, stainless steel appliances, luxe finishes, washers and dryers, private bathrooms for all bedrooms and patios and balconies. Community amenities include a shuttle bus service, a resort style pool with a lounge deck, a fitness center, volleyball and basketball courts and putt putt golf.
Situated at 2501 S University Parks Dr., the property is less than one mile from campus, just off Brazos River, and is a five-minute drive to McLane Stadium. Students benefit from proximity to downtown Waco and the Waco Riverwalk, offering shopping, dining, and nightlife. Additionally, the community offers easy access to I-35.
The JLL Capital Markets Advisory Team was led by Managing Directors Teddy Leatherman and Scott Clifton, as well as Director Kevin Kazlow.
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
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 106,000 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 Bullseye Development
Bullseye Development is a Dallas-based development company specializing in student housing and multi-family projects in Texas and Colorado. Bullseye is led by Derrick Turnbull who has been in the real estate development business for more than 30 years.
About Versity Invest, LLC
Versity Invest, LLC is a real estate investment company located in Orange County, California. The company specializes in student housing and multi-family projects across the U.S. With a portfolio valued at nearly $2.0 Billion across 22 states, Versity has over 3,000 investors and was ranked the 129th fastest-growing company in the country.