$45M financing secured for luxury student housing community at University of Chicago

Photo credit: Vue53 website

CHICAGO– JLL Capital Markets announced that it has arranged the $45 million refinancing for Vue53, a 267-unit / 403-bed student housing community located at the University of Chicago in Chicago, Illinois.

JLL worked on behalf of the borrower, a venture between Blue Vista and Bain Capital Real Estate, to secure the refinance loan through a fund managed by Argentic Investment Management LLC (“Argentic”).

Vue53 is located less than a 10-minute walk to the prestigious University of Chicago campus in Hyde Park. It offers high-quality studio, one- and two-bedroom units with floor-to-ceiling windows, granite countertops, private bathrooms, in-unit washers and dryers and stainless-steel appliances.

Renters also have access to a wide array of community amenities, including a bike storage facility, a business center, study lounges, a fitness center, a clubroom with pool tables, and sun decks. A 24-hour doorman, on-site parking, package storage and handling, and campus shuttle pickup offer complete convenience and quick accessibility. The property also includes 27,367 square feet of ground-floor retail anchored by a Target with a Starbucks.

The JLL Capital Markets Debt Advisory team was led by Senior Directors Brian Walsh and Dan Kearns, Associate Tara Hagerty, and Analyst Dave Hunter.

Brandon Honey, SVP Capital Markets at Blue Vista, said, “We appreciate the high-quality debt options JLL sourced for Vue53, and we’re very happy to be working with Argentic.”