JLL closes sale of Mississippi student housing community
504-bed property serves students of Mississippi State University in Starkville
CHICAGO, January 15, 2020 – JLL Capital Markets announced today that it has closed the sale of Lakeside Student Living, an award-winning, 504-bed, purpose-built student housing community serving students of Mississippi State University in Starkville.
JLL marketed the portfolio exclusively on behalf of the seller to an undisclosed buyer.
Lakeside Student Living is located at 1300 Old Highway 12 along a vast stretch of lakefront less than five miles southwest of campus. Completed in 2006, the community comprises a mix of studio, one-, two- and four-bedroom layouts averaging 1,068 square feet along with 505 parking spaces. In addition to scenic waterfront views, the community also offers a wide variety of community and in-unit amenities, including a comprehensive fitness complex, pool, volleyball court, hammock beach, computer lab, private study lounges, in-unit laundry rooms, fully furnished living spaces and 100% bed-bath parity in all units. The property is 98% occupied for the current semester.
The JLL Capital Markets investment advisory team representing the seller included Directors Scott Clifton and Stewart Hayes along with Senior Managing Director Barry Brown.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.