Student Housing Daily - March 25 - JLL secures JV equity

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NEWS ROUNDUP

FINANCING: JLL secures JV equity. JLL has announced the successful arrangement of joint venture equity for the development of two new purpose-built student housing communities: Signature on Varsity in Raleigh, North Carolina, and Signature on Grand in Knoxville, Tennessee. These projects, led by The Preiss Company and FD Stonewater, aim to meet growing demand in two of the nation’s fastest-expanding university markets. JLL represented the owners in securing an equity partner to help bring both developments to life, which are slated for completion in 2027. The equity raise was led by Teddy Leatherman, Scott Clifton, Jayme Nelson, and Kevin Kazlow from JLL’s Capital Markets team.

DEVELOPMENT: Kennesaw State University breaks ground on 460 beds. Kennesaw State University (KSU) marked a significant milestone in campus development with the groundbreaking of The Summit II, a nearly 97,000-square-foot residence hall designed to accommodate 460 students. The project is set to open in Fall 2026 and will help meet growing demand for on-campus living as KSU’s enrollment continues to rise. “Summit II is an exciting example of our mission and strategic plan in action,” said KSU President Kathy S. Schwaig.

DEVELOPMENT: Ameron plans 104-unit complex near UWF. A development proposal filed with Escambia County last week outlines plans for a 104-bedroom apartment complex at 2160 Academy Drive, just minutes from UWF’s campus. Filed by Pensacola-based civil engineering firm Baskerville-Donovan on behalf of Alec Brognano and Ameron Homes, the proposed development calls for a single apartment building with 106 parking spaces, including five ADA-compliant spots. If approved, the project will sit near existing student housing options like College Vue Apartments, adding much-needed inventory to a growing off-campus housing market.

EXPANSION: PeakMade adds two properties to management portfolio. PeakMade Real Estate has been selected to manage two prominent student housing communities in Michigan and Kansas, further expanding its national portfolio of purpose-built student accommodations. The assignments include Hannah Lofts, a 702-bed development near Michigan State University in East Lansing, and Proxi Lawrence, a 312-bed community serving students at the University of Kansas in Lawrence.

PEOPLE MOVES: Tailwind appoints new COO. Tailwind Group has officially announced the hiring of Casey Petersen as its new COO. A seasoned executive in the industry, Petersen brings a wealth of experience in operations, strategic growth, business development, and team leadership. Prior to joining Tailwind, he served as COO of PeakMade Real Estate, where he oversaw all aspects of the firm’s operational platform including marketing, leasing, training, and property management support functions. Brandon Smith, President and CEO of Tailwind Group, welcomed Petersen with enthusiasm: “I could not be more excited to bring Casey in as our COO. His track record of leadership and operational excellence is something that I’ve observed and admired over the years as we’ve competed in similar markets.”

READ: Newmark ranks #1 in student housing sales in 2024.

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