JLL Capital Markets arranged the sale and acquisition loan for the Calidus Clemson Portfolio, which consisted of four student housing properties in Clemson, SC
DALLAS, Dec. 15, 2021 – JLL Capital Markets announced today that it has closed the sale and acquisition financing for a four-property, 245-bed, student housing portfolio at Clemson University in Clemson, South Carolina.
JLL represented the seller, Calidus Holdings, LLC. Student Quarters acquired the asset. Additionally, working on behalf of the buyer, JLL secured a 30-year, floating-rate loan.
The 79-unit, 245-bed portfolio comprises 109 College, The Boundary, The Estate and The Farm and features stainless steel appliances, granite counter tops, tile backsplash, in-unit washers and dryers, stained concrete flooring, bed and bath parity and spacious unit sizes that range from 350 to 536 square feet per bed. Community amenities include proximity to campus, a swimming pool, a fitness center, an outdoor pavilion and study rooms.
The properties are positioned along Highway 123 and College Avenue with properties located at 109 College St., 100 Old Central Rd., 111 College St., and 240 Elm St. Set only 1.2 miles from the Clemson University campus, the four properties provide students easy access to the university’s retail, restaurant, and entertainment attractions. Additionally, the Clemson Tigers’ famous “Death Valley” football stadium, which holds around 81,000 fans, is just 1.5 miles south of the portfolio. Less than a mile from the property, Downtown Clemson offers several of the college’s popular bars, restaurants and nightlife, which include Evolve Kitchen + Table, Tiger Town Tavern and Charleston Sports Pub. The location also offers proximity to both Oconee County Airport and Greenville-Spartanburg International Airport as well as Lakeside Lodge Center.
The JLL Capital Markets Investment Sales and Advisory team representing the borrower was led by Senior Director Teddy Leatherman, Senior Director Scott Clifton and Senior Director Stewart Hayes. The JLL Capital Markets Debt Advisory team was led by Director John Gavigan.
According to JLL, “We are thrilled to close this transaction for Calidus Holdings and believe Student Quarters is the perfect buyer for this portfolio. Clemson continues to see strong enrollment growth coupled with limited supply which is one of the reasons this process was so competitive. Both buyer and seller performed flawlessly, and we look forward to closing more transactions with both parties.”
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.
