Student housing community at Louisiana Tech University sells
JLL Capital Markets closed the sale of the 120-unit / 432-bed CEV Ruston in Ruston, Louisiana
CHICAGO, Jan. 4, 2023 – JLL Capital Markets announced that it has closed the sale of CEV Ruston, a 120-unit / 432-bed student-housing community primarily serving the 11,000 students at Louisiana Tech University in Ruston, Louisiana.
JLL represented the seller, Timberline Real Estate Ventures, and Briar Meads Capital acquired the asset.
Constructed in 2008, CEV Ruston features fully furnished two- and four-bedroom units with in-unit washers and dryers, high-speed internet, private bedrooms and desks and an average size of 1,349 square feet. The units present an opportunity for value-add upgrades. The property also offers an all-inclusive amenity package that includes a fitness center, group and private study rooms, a fully equipped computer center and a beautiful outdoor swimming pool and deck.
Situated at 1812 W. Alabama Ave., CEV Ruston is immediately adjacent to campus and the Joe Ailet Stadium and within a 10-minute walk to most academic buildings. The community also attracts students from the nearby Grambling State University, which has gained national recognition as graduating the highest number of diverse students in STEM programs.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Directors Scott Clifton, Stewart Hayes and Teddy Leatherman, Associate Kevin Kazlow and Analyst Jack Goldberger.
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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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 September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
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.
About Briar Meads Capital
Briar Meads Capital (“BMC”) is a private investment management firm that specializes in the acquisition of distressed loan assets in the United States. Since its founding, BMC has evolved into a diversified real estate investment management company, and, together with its strategic partners, has completed more than 70 transactions with acquisition value in excess of $500 million.