Done Deals: JLL Capital Markets led the financing efforts for K14 Campus Flats, a student housing property located across the street from the University of Oregon

Friday, May 31, 2024

JLL Capital Markets led the financing efforts for K14 Campus Flats, a student housing property located across the street from the University of Oregon

Patricia Heminger

CHICAGO, IL – JLL Capital Markets has arranged financing for K14 Campus Flats, a student housing property across the street from the University of Oregon in Eugene, Oregon. Financing details were not disclosed.

Working on behalf of the borrower, Waterway Family Funds, JLL placed the 10-year acquisition financing with Freddie Mac. The loan will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo℠ lender.

K14 Campus Flats is located at 1414 Kincaid St. just a five-minute walk to the student recreation center and campus core as well as a two-minute walk to East 13^th Ave., the main retail hub for bars and nightlife serving students in the area.

Rebecca Brielmaier

University of Oregon is a premier Power 5 school currently in the PAC-12 and has an enrollment of over 23,000 students. During the 2022 – 2023 academic year, the University of Oregon experienced its largest freshman class enrolment, 31% higher than their average freshman class size over the past 10 years.

Dan Kearns

Completed in 2015, the Class A student housing community offers 45 units that are fully leased in two-, three- or four-bedroom layouts. K14 Campus Flats also offers a full amenity suite, which includes on-site bicycle storage, community courtyard, grilling station and tenant lounge.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Directors Patricia Heminger, Dan Kearns and Stephen VanLeer, Associate Rebecca Brielmaier, Senior Analyst Sam Tarter and Analyst Merrick Evans.

“JLL is thankful to have had the opportunity to help establish a great new relationship between Freddie Mac and Waterway Family Funds,” commented Kearns. “As Waterway scales its multi-housing and student housing portfolio, this relationship will be incredibly valuable.”

Stephen VanLeer,

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 sales and 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.

For more news, videos and research resources, please visit JLL’s newsroom.

Sam Tarter

About Waterway Family Funds

Waterway Family Funds sources and acquires quality commercial real estate across diverse asset classes and geographic locations.

The company targets assets that (1) preserve capital, (2) maximize distributable yields, and (3) generate superior all-in returns.

The principals of Waterway Family Funds have acquired more than $16 billion of real estate assets located throughout the U.S., consistently generating strong returns on such investments.

Additionally, the principals have financed and structured over $12 billion of real estate across all segments of the capital stack.