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| Teddy Leatherman |
CHICAGO, IL – 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. The price was not disclosed.
JLL represented the seller, Timberline Real
Estate Ventures, and Briar Meads Capital acquired the asset.
Scott Clifton
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.
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.
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| Stewart Hayes |
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.
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| Kevin Kazlow |
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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| Jack Goldberger |
CONTACT
Jenna Sharp
JLL, Public Relations
Dallas, Texas
M +1 214 394 3356
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