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$45M financing secured for luxurious scholar housing group at College of Chicago

CHICAGO– JLL Capital Markets introduced that it has organized the $45 million refinancing for Vue53, a 267-unit / 403-bed scholar housing group situated on the College of Chicago in Chicago, Illinois.

JLL labored on behalf of the borrower, a enterprise between Blue Vista and Bain Capital Actual Property, to safe the refinance mortgage by way of a fund managed by Argentic Funding Administration LLC (“Argentic”).

Vue53 is situated lower than a 10-minute stroll to the distinguished College of Chicago campus in Hyde Park. It provides high-quality studio, one- and two-bedroom models with floor-to-ceiling home windows, granite counter tops, personal loos, in-unit washers and dryers and stainless-steel home equipment.

Renters even have entry to a big selection of group facilities, together with a motorcycle storage facility, a enterprise middle, examine lounges, a health middle, a clubroom with pool tables, and solar decks. A 24-hour doorman, on-site parking, bundle storage and dealing with, and campus shuttle pickup provide full comfort and fast accessibility. The property additionally consists of 27,367 sq. toes of ground-floor retail anchored by a Goal with a Starbucks.

The JLL Capital Markets Debt Advisory group was led by Senior Administrators Brian Walsh and Dan Kearns, Affiliate Tara Hagerty, and Analyst Dave Hunter.

Brandon Honey, SVP Capital Markets at Blue Vista, mentioned, “We recognize the high-quality debt choices JLL sourced for Vue53, and we’re very glad to be working with Argentic.”

The submit $45M financing secured for luxury student housing community at University of Chicago appeared first on Boston Real Estate Times.