JLL Capital Markets announced that it closed the sale of Salisbury Campus Apartments, a five-building, 85-unit / 290-bed student housing community located near the campus of Purdue University in West Lafayette, Indiana.
Built from 1983 to 1990, the Salisbury Campus Apartments offer a mix of floorplans, ranging from studio, two-bedroom, three-bedroom and four-bedroom units.
Situated at 300 N. Salisbury, 310 N. Salisbury, 229 Littleton, 235 Littleton and 318 N. Salisbury, the Salisbury Campus Apartments are located just 0.25 miles from the campus of Purdue University. The Tier-1, Power Five university boasts a Fall 2023 enrollment of 52,211 students, a 3% increase from the previous academic year, as well as an offering of over 6,700 courses and 200 specializations. In addition to proximity to campus, residents also benefit from being steps away from in-demand retailers, such as Target, Chipotle, Chauncey Hill Mall and more.
The JLL Capital Markets Investment Sales and Advisory team was led by Managing Directors Scott Clifton and Teddy Leatherman, Director Kevin Kazlow, Associate Jack Goldberger and Analyst Grace Picchiotti. JLL represented the seller, Muinzer, and Champion Real Estate Company acquired the properties.
“The student housing fundamentals at Purdue University are among the strongest in the nation, and this transaction highlights the tremendous liquidity available for value-add student housing assets that are proximate to flagship institutions. We’re excited to see Champion execute on their proven business plan over the coming years. Go Boilermakers!” said Clifton.
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.
