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| Teddy Leatherman |
CHICAGO, IL – Student housing has set an all-time high in transaction volume for 2022 with an annualized total of $18.9 billion, significantly surpassing the previous year-end high of $11.5 billion in 2021.
“We are seeing significant interest from capital
coming from the Middle East, Singapore and starting to hear rumblings around
Latin America,” said Managing Director Teddy Leatherman, who leads the
Dallas Student Housing Capital Markets team.
“We are speaking with our global capital
teammates on a weekly basis to ensure all foreign capital is getting access to
our transactions. Our most successful executions have been global marketing
processes.”
The JLL U.S. student housing capital markets
team is closing out a record year as well, with a total of $1.8 billion in
sales, equity raises and financings.
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| Student-housing, Kennesaw, GA |
According to JLL Capital Markets, cross-border
capital has in recent years played a much larger role in the success of the
asset class. From 2012 to 2016, cross-border capital only held 6.7% of the
market share. From 2017 to 2021, it held 20%, deploying almost $10 billion to
student housing assets.
With this broadened capital targeting the
sector, the sale price per unit has steadily increased nationally. Student
housing rents increased 8.8% year-over-year, with average rent at $847/bed as
of October 2022 compared to $779/bed in November of 2021 (CollegeHouse).
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| Student-housing, Lincoln, Nebraska |
Following the broader multi-housing market, student housing has seen the highest levels of new supply in the Sun Belt markets.
The top prelease markets for student housing
include: Tallahassee, Florida; Knoxville, Tennessee; Clemson, South Carolina;
Austin, Texas; and Gainesville, Florida (CollegeHouse).
Contact:
Jenna Sharp
JLL, Public Relations
Dallas, Texas
M +1 214 394 3356
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