Mosaic Capitalizes Student Housing Near USC

JLL arranged a package of joint venture equity, mezzanine financing and a construction loan.

USC Expo. Image courtesy of JLL

Mosaic Investment Partners has fully capitalized USC Expo, a 260-bed student housing community in Los Angeles, adjacent to the University of Southern California. Working on behalf of the firm, JLL Capital Markets secured joint venture equity and mezzanine financing from HC2 Capital.

The team also arranged a $25 million senior construction loan from Calmwater Capital, public records show. The note has a maturity date set in 2026.

Slated for completion in the first quarter of 2025, the seven-story property will comprise 57 units with studio to four-bedroom floorplans averaging 923 square feet, equipped with stainless steel appliances, HVAC systems and balconies. The 10,000-square-foot amenity space will include an amenity deck on the second floor, fitness center, rooftop pool and lounge, computer room and dog park.

Located at 1069 W. Exposition Blvd., the community is less than half a mile from the University of Southern California in Los Angeles campus and less than a mile from LA Memorial Coliseum, Exposition Park and BMO Stadium. Interstate 110 and Interstate 10 are within 1 mile and 1.5 miles, respectively, of the development.

Senior Managing Director Greg Brown and Senior Director Zane Sweet of JLL Capital Markets arranged the financing package.

Strong development pipeline near USC

Currently, there are nine communities serving the students at USC-Los Angeles, totaling 4,141 units, Yardi Matrix data shows. Four more properties, planned and under construction, will add a total of 2,129 units to the inventory, according to the same data provider.

Earlier this year, Landmark unveiled plans for a 1,500-bed property next to USC, set for completion in 2026, after paying $114.8 million for a 4.5-acre parcel at 3900 S. Figueroa St. Core Spaces’ Hub on Campus Los Angeles – Figueroa will also come online this fall and add 577 beds to the pipeline.

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