Partnership Scores $146M Financing for Student Housing Projects

JLL secured the loans for Union on Broadway in Eugene, Ore., and Lakeview in Seattle.
Union on Broadway. Rendering courtesy of JLL

The partnership of Greystar and Star America has received more than $140 million in construction financing for two student housing projects. JLL secured $59.95 million for Union on Broadway, a development in Eugene, Ore., and $86.17 million for Lakeview, a property in Seattle. The brokerage worked with Pacific Western Bank to arrange the financing.

Located at 476 E. Broadway S., Union on Broadway will comprise 357 units totaling 608 beds. Planned amenities include a fitness center, rooftop pool, study lounges, conference rooms and game rooms. The property will also have ground retail with outdoor seating. Union on Broadway is within walking distance of University of Oregon.

Lakeview is a 597-bed project comprising studio, two-, three and four-bedroom units. Planned amenities include a fitness center, bicycle room, library and sky lounge with media center. Located at 4126 12th Ave. NE, the development is within walking distance of University of Washington.

JLL’s team included Senior Managing Director Charles Halladay, Managing Director Jordan Angel and Senior Director Chris Ross, as well as Directors Teddy Leatherman and Stewart Hayes and Analyst Taylor Gimian. In August, Halladay arranged a Freddie Mac loan for the acquisition of a 200-unit multifamily property in Colorado Springs, Colo.