News release

Sale of Clemson University student housing portfolio closes

JLL Capital Markets closed the sale of The Enclave in Town and The Enclave on Old Central in Clemson, South Carolina

September 13, 2022

Jenna Sharp

Capital Markets PR
+1 214 438 6450

DALLAS, Sept. 13, 2022 – JLL Capital Markets announced today that it has closed the sale of the two-property, 382-bed / 146-unit, value-add student housing portfolio at Clemson University in South Carolina, consisting of The Enclave in Town and The Enclave on Old Central.

JLL worked on behalf of the seller, Centerlane Capital, LLC and Burkely Communities, LLC. Pierce Education Properties acquired the asset.

Built in 1998, The Enclave in Town and The Enclave on Old Central offer two- and three-bedroom units with stainless steel or white appliances, full-size washers and dryers and plank vinyl flooring. Community amenities include a swimming pool, a 24-hour fitness center and an on-site dog park.

Situated at 423 Lindsay Rd. and 1146 Old Central Rd., the properties are conveniently located on the CAT Bus line. The communities are just a short drive from campus and approximately 0.8 miles from Highway 123, which runs east to west and gives students access to “Restaurant Row.” Additionally, Downtown Clemson is about 1.4 miles from the portfolio and is home to several of the college’s popular restaurants and nightlife.

The JLL Capital Markets Investment Advisory team representing the borrower was led by Senior Directors Teddy Leatherman, Scott Clifton and Stewart Hayes.

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 and sales 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 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Centerlane Capital, LLC.

Centerlane Capital is an emerging investment manager formed in 2014 to make opportunity driven investments in the Southeastern US. The firm’s expertise crosses multiple property sectors and strategies with a focus on multifamily, office and retail. Our team’s combined 55+ years of investment real estate experience allows Centerlane to leverage its relationships with best-in-class operators and developers to source unique and compelling opportunities for our capital. To date, Centerlane has invested or co-invested in transactions totaling $520 million.

About Burkely Communities

Since its formation in 1990, Burkely has been and remains an owner-operator of apartment communities. Our perspective is long-term, reflecting both the nature of the asset-class and the conviction that long-term ownership affords the greatest opportunity to create significant value. We are experienced professionals, dedicated to excellence and integrity in our work. We know that building great communities begins with organizational greatness, the essential ingredient in which is great people—who fit, and who are committed to the organization’s purpose, ethos, and values. Communities are, above all, comprised of people who are drawn to something they value in common.

About Pierce Education Properties

Founded in 1995, Pierce Education Properties (PEP) took its platform national in 2006. More than a decade later, we've grown into one of the nation's leading buyers of student housing, and we've since acquired more than $1 Billion of purpose-built student housing.  PEP also develops and provides advisory services for student housing, Greek housing, and university real estate projects.  For over 10 years, PEP served as Master Developer of the College Community Redevelopment Project together with the San Diego State University Foundation.  PEP’s leadership has fostered the acquisition, entitlement, planning, development, and construction of several billion dollars of planned and completed student housing and university-supporting real estate projects.