JLL Capital Markets announced that it has arranged the $45 million refinancing for Vue53, a 267-unit / 403-bed student housing community located at the University of Chicago in Illinois.
JLL worked on behalf of the borrower, a venture between Blue Vista and Bain Capital Real Estate, to secure the refinance loan through a fund managed by Argentic Investment Management LLC (“Argentic”).
Vue53 is located less than a 10-minute walk to the prestigious University of Chicago campus in Hyde Park. Renters also have access to a wide array of community amenities, including a bike storage facility, a business center, study lounges, a fitness center, a clubroom with pool tables, and sun decks. A 24-hour doorman, on-site parking, package storage and handling, and campus shuttle pickup offer complete convenience and quick accessibility. The property also includes 27,367 square feet of ground-floor retail anchored by a Target with a Starbucks.
The JLL Capital Markets Debt Advisory team was led by Senior Directors Brian Walsh and Dan Kearns, Associate Tara Hagerty, and Analyst Dave Hunter.
Brandon Honey, SVP Capital Markets at Blue Vista, said, “We appreciate the high-quality debt options JLL sourced for Vue53, and we’re very happy to be working with Argentic.”
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.
