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JLL Arranges Sale of Student Housing Property Near Illinois State University
JLL has arranged the sale of The Flats at ISU, a 155-unit, 447-bed student housing community serving Illinois State University in Normal, Illinois.
JLL represented the seller, a joint venture between Campus Advantage and Heitman. JLL Capital Market’s Investment Sales and Advisory team was led by Managing Director Scott Clifton, Director Kevin Kazlow and Associate Jack Goldberger. The buyer was Jackson Dearborn Partners.
Completed between 2011 and 2014, The Flats at ISU offers a mix of studios and four-bedroom apartments, all featuring bed-bath parity. The Flats at ISU occupies a premier location directly across from the Illinois State University campus, just a five-minute walk to the main quad and the State Farm Hall of Business.
“Illinois State is a very underrated student housing market,” said Kazlow. “The Flats at ISU has demonstrated consistent performance and is well-positioned to benefit from ISU’s growth and lack of housing.
