JLL Capital Markets has secured the sale of Lakeside Student Living, a 504-bed, purpose-built student housing community in Starkville, Miss. Directors Scott Clifton and Stewart Hayes, along with Senior Managing Director Barry Brown were part of the investment advisory team that represented the seller. The asset was 98 percent occupied for the current semester at the time of sale.
Located at 1300 Old Highway 12, the property serves students attending Mississippi State University situated approximately 4.8 miles away. Completed in 2006, the community features a mix of studios and one-, two- and four-bedroom units averaging 1,068 square feet.
Lakeside Student Living includes fully furnished living spaces and features common-area amenities such as a fitness center, a swimming pool, a volleyball court, a hammock beach, a computer lab, study lounges, in-unit laundry rooms and 505 parking spaces. Various dining, shopping and entertainment venues including Walmart Supercenter, Sweet Peppers Deli, Panda Express, McKee Park and Starkville Sportsplex are in the proximity of the campus. Additionally, George M. Bryan Airport is 1.8 miles away.
In another recent deal, JLL Capital Market closed a $63.6 million construction loan for The Umbrella Factory, a mixed-use condominium and retail project in Brooklyn, N.Y.
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