JLL Capital Markets announced that it has secured a financing for HERE Reno, a 636-bed, Class A student housing property serving student of the University of Nevada, Reno.
JLL represented the borrower, Article Student Living, in arranging the three-year floating-rate financing with PPM America Inc.
Built in 2022, HERE Reno features a mix of studios, one-, two-, three-, four- and five-bedroom fully furnished apartments. The community offers luxury amenities including a 24-hour fitness center, study lounge with private rooms, hot tub and sun deck, coffee and breakfast bar, club room with kitchen and gaming zone and a club lounge.
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.
Article Student Living is a Chicago-based, vertically integrated real estate investment company specializing in acquiring, developing and operating Class A, purpose-built student housing assets across top-tier university markets in the US. Article has experience in over 70 university markets and continues to sustainably grow its portfolio of assets – prioritizing university market selection, value creation and asset composition. Article currently owns and manages 45 student housing properties comprising 25,000 beds. The firm is wholly owned by QuadReal, one of the top 20 largest real estate investors globally.
Their mission is to be seen by clients and their advisors as a consistently reliable partner to help them achieve their long-term value goals.
