JLL Capital Markets announced that it arranged joint venture equity on behalf of sponsor Anton DevCo for Axis @ Davis, a 200-unit housing development located near the University of California, Davis. Axis @ Davis will provide needed housing in a supply-constrained Davis submarket. The project supports Anton DevCo’s goal of providing high-quality housing within California.
Located at 2555 Research Park Drive, Axis @ Davis will be located one mile from UC Davis’ campus, which can be accessed via a 20-minute walk, a nine-minute bike ride or through the Unitrans bus route with multiple stops directly across from the project. Residents will be within walking distance of everyday essentials, including Safeway, Rite Aid and Starbucks, and will have easy access to restaurants, coffee shops, boutique shopping and a farmer’s market clustered around the 32-block Downtown Davis shopping district.
Axis @ Davis is designed as five three and four-story buildings with a mix of one-, two- and three-bedroom units; garage, tandem and surface parking totaling ±1.7 spaces/unit; 499 bicycle parking spaces; and ±1,500 square feet of ground floor retail. Units will feature stainless steel appliances, quartz countertops smart thermostats, full-height tile backsplashes and central heat and air conditioning, while community amenities will include a top-floor lounge and resort-style swimming pool and spa, a pet park, a 24-hour mail locker/package room, a game room, an arcade and study rooms with a coffee bar and private offices. The project is designed as a 100 percent electric project with rooftop solar and EV charging spaces and will be a non-smoking community.
Construction is expected to commence in summer 2023 with a planned delivery ahead of the Fall 2025 school year.
The JLL Capital Markets Advisory Team was led by Senior Managing Directors Matt Kroger, Brandon Geraldo and Ryan Wagner and Directors Matt Benson and Kellan Liem.
“We continue to see investor interest for student development at Tier-1 Universities with Top-Tier sponsors. We loved working with the Anton DevCo team on this assignment and are excited to see the final product!” said Managing Director Teddy Leatherman, who co-leads the national student housing platform for JLL Capital Markets.
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 and 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.
