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Luxury Student Housing Asset Trades in Texas

JLL closes the sale of Uptown Square Apartments

AUSTIN, Jan. 13, 2016 – On behalf of Casey Development, JLL’s Capital Markets experts today announced the firm has closed the sale of Uptown Square Apartments, a 512-bed luxury student housing property located between San Antonio and Austin in San Marcos, Texas. Inland Real Estate Group purchased the asset.
Managing Director Scott LaMontagne and Associate Michael Gonzalez led the JLL team on the transaction.
“Uptown Square Apartment’s new finishes and extensive amenity package caters directly to what today’s student population desires,” said LaMontagne. “In addition, its proximity to Texas State University and the significant population growth San Marcos is experiencing poise the property to deliver strong returns.”
Uptown Square Apartments totals 512 beds across 316 units and features studio, one- and two-bedroom floorplans. The newly constructed asset is located near numerous entertainment, retail and dining options. Community amenities include a 3,000 square foot state-of-the-art fitness center, a clubhouse, study rooms, a computer lab, a resort-style pool, sand volleyball court and outdoor pavilion with barbeque grills.
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 a sale, financing, repositioning, advisory or recapitalization execution. In 2014 alone, JLL Capital Markets completed $118 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 1,700 specialists, operating all over the globe.
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About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit