JLL Capital Markets has arranged the acquisition financing for a 303 Flats, a class-A, 138-unit, 431-bed mid-rise student housing community located at the University of Tennessee in Knoxville.
JLL represented the borrower, Horizon Realty Advisors, to secure a five-year, fixed-rate loan through Northwestern Mutual.
303 Flats is located less than one mile from the University of Tennessee. Completed in the fall of 2018, the property offers a mix of one-, two-, three- and four-bedroom units. Amenities include a resort-style pool, a 24-hour fitness studio, a yoga studio, an outdoor kitchen and grills, group study and computer rooms, a business center, bike storage, pet wash stations and reserved parking.
“We are excited to have represented Horizon Realty Advisors on this assignment,” said Jake Wisness, managing director of the JLL Capital Markets debt advisory team. “All partners in this transaction worked tirelessly to navigate the current volatility in the de
