University of Cincinnati student housing development secures joint venture equity
JLL Capital Markets arranged joint venture equity for the development of Four Corners, a 404-bed / 136-unit student housing project
DALLAS, Jan. 4, 2023 – JLL Capital Markets announced today that it has secured joint venture equity for the development of Four Corners, a 404-bed / 136-unit student housing development adjacent to the University of Cincinnati.
JLL represented premier national developer, Dallas-based Fountain Residential Partners, in procuring joint venture equity from global investment manager L&B Realty Advisors on behalf of its client.
Upon completion in 2024, the three-building, four-story project will provide an upscale living experience with excellent proximity to the flagship University. Each unit will feature queen-sized pillow-top mattresses, walk-in closets, 60-inch HD flat screen TVs and high-speed internet.
Four Corners will sit on Central Parkway, a major North/South thoroughfare that will provide excellent visibility and frontage to the community as well as direct access to the entire city of Cincinnati. The project is adjacent to the southwest border of the University, home of the school of pharmacy, biology and research departments. Additionally, residents will be within minutes of all of the Universities offerings, including the College of Arts and Sciences, the Carl H. Lindner College of Business and Nippert Stadium.
The JLL Capital Markets Advisory team featured Senior Managing Director Jeremy Sain, Managing Director Teddy Leatherman and Analysts Ryan Pollack and Danielle Rice.
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 September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Fountain Residential Partners
Fountain Residential Partners is a Dallas-based, privately-held development and asset management company specializing in luxury, mixed-use, and affordable apartment homes in university and collegiate markets across the United States. The company has a strong track record of creating compelling living environments that enhance communities and create value for our investors, partners, and universities, by developing quality, institutional-grade student housing assets that meet the demands of today’s higher education system.
About L&B Realty Advisors
L&B Realty Advisors is a global, full-service investment manager that advises institutional investors on real property investments. The company’s institutional real estate investment vehicles include separate accounts and commingled funds, and L&B Realty’s seasoned investment professionals offer the full complement of investment management services including portfolio management, acquisition, asset management, research, development and construction services, and investment accounting.