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| Teddy Leatherman |
CHICAGO, IL – JLL Capital Markets announced it handled the sale of Naismith Hall, a student housing dorm-style community totaling 504 beds, located on campus at the University of Kansas in Lawrence, Kansas.
JLL represented the seller, Bromley Companies LLC, in
completing the sale to an undisclosed buyer.
 |
| Scott Clifton |
Naismith Hall sits on 2.84 acres, totaling 120,000
square feet and was originally built in 1965, with the most recent renovations
completed in 2013.
The student housing also
features community amenities, including a 24-hour fitness center, swimming pool
with sun deck, renovated lounge with games, 24-hour computer lab with printing
available, free on-site tutoring, community kitchen, on-site laundry, on-site
parking and food service at Naismith Hall Café.
New
ownership also plans to execute a significant renovation program and modernize
the student housing asset to premium standards.
Located at 1800 Naismith Dr., the property is
adjacent to the university, providing unparalleled housing opportunities for
students wanting to be just steps away from campus.
 |
| Stewart Hayes |
Expected growth plans are sparking the demand for student housing near the campus, with enrollment over 27,500 students.
Additionally, the university is recognized as
an R-1 Doctoral Research University, with a strong public research authority,
and its NCAA Division I athletics within the Big 12 Conference is prominently
known, providing ample investment opportunity with a tier one asset for the
buyer.
The JLL Capital Markets team representing
the seller was led by Senior Directors Scott Clifton, Stewart Hayes, Teddy
Leatherman and Executive Vice President Jim Gates.
“Naismith Hall provides
great investment opportunity for the buyer, being prominently positioned within
steps from the renowned University of Kansas,” says Clifton.
 |
| Jim Gates |
“Additionally, the property has various paths
to outsized returns for new ownership, given the promising increased demand for
on-campus student housing in the near future.”
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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CONTACT:
Natalie
Passarelli
Public Relations
Jones Lang LaSalle Americas, Inc.
200 E. Randolph St.
Chicago, IL 60601
M +1 224 477 7307
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