JLL Capital Markets arranges joint-venture equity, mezzanine financing and senior financing for the 57-unit / 260-bed USC Expo student housing development in Los Angeles, CA

  

 Teddy Leatherman

IRVINE, CA – JLL Capital Markets announced has arranged the capitalization of USC Expo, a 57-unit / 260-bed USC student housing development located less than a half-block from the campus of the University of Southern California (USC) in Los Angeles. Financial details were not disclosed.

USC Expo, a 57-unit / 260-bed USC student
housing project near the  University
of Southern California campus (USC)
 in Los Angeles, CA

JLL worked on behalf of the sponsor, Mosaic Investment Partners, to secure both joint venture equity and mezzanine financing from HC2 Capital, and a senior construction facility from Calmwater Capital.

 

With completion expected in Spring of 2025, the seven-story USC Expo will feature fully furnished studio, one-, two-, three- and four-bedroom apartments with an average size of 923 square feet, as well as stainless steel appliances, HVAC with individual room controls, balconies and more.

 

The property will provide approximately 10,000 square feet of amenity space, including a rooftop pool area and lounge, a second-floor amenity deck, a fitness center, a computer room, a dog park and more.

 Greg Brown

Situated near the northwest corner of Vermont Ave. and Exposition Blvd., the project features a central location that offers students direct access to campus, Expo Park, the LA Coliseum and the Vermont Exposition Metro station. 

“We are very excited to have secured the complete capital stack solution for Mosaic Investment Partners for what will undoubtedly be a transformative student housing development on USC’s westside of campus," said Sweet.

 

 "In a highly selective and constrained capital environment, both HC2 Capital and Calmwater Capital recognized the exceptional opportunity of USC Expo, the student market expertise of Mosaic and the continued strong performance of the student housing sector – particularly at a top-tier university such as USC.”.

 

“USC Expo is truly representative of the combined capabilities of JLL’s platform. Our local market team worked closely with our national student housing team to deliver confidence to the capital markets and resulted in a best-in-class execution for Mosaic.”

 

Zane Sweet

“We continue to see investor interest for well-located and amenity-rich student housing assets across the U.S.,” said Managing Director Teddy Leatherman, who serves as a national student housing platform lead with JLL Capital Markets.

 

 “As a USC alumna,

 it was an honor and a privilege to see the JLL team capitalize USC Expo Development for Mosaic Partners! Fight On!”   

The JLL Capital Markets

 Debt Advisory Team was led by Senior Managing Director Greg Brown and Senior Director Zane Sweet.

 

 

CONTACT:

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com