JLL Capital Markets announced that it has closed the sale of the two-property, 382-bed / 146-unit, value-add student housing portfolio at Clemson University in South Carolina, consisting of The Enclave in Town and The Enclave on Old Central.
JLL worked on behalf of the seller, Centerlane Capital, LLC and Burkely Communities, LLC. Pierce Education Properties acquired the asset.
Built in 1998, The Enclave in Town and The Enclave on Old Central offer two- and three-bedroom units with stainless steel or white appliances, full-size washers and dryers and plank vinyl flooring. Community amenities include a swimming pool, a 24-hour fitness center and an on-site dog park.
Situated at 423 Lindsay Rd. and 1146 Old Central Rd., the properties are conveniently located on the CAT Bus line. The communities are just a short drive from campus and approximately 0.8 miles from Highway 123, which runs east to west and gives students access to “Restaurant Row.” Additionally, Downtown Clemson is about 1.4 miles from the portfolio and is home to several of the college’s popular restaurants and nightlife.
The JLL Capital Markets Investment Advisory team representing the borrower was led by Senior Directors Teddy Leatherman, Scott Clifton and Stewart Hayes.
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 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.