Fund Name | ICON Student Housing OZ Fund |
---|---|
Fund Manager or Organizer(s) | Jackson Dearborn Partners |
Fund Size | $8,075,000 |
Fund-Related Website | jacksondearborn.com |
Investment Focus |
Commercial Real Estate, Community Revitalization, Student Housing
|
Geographic Focus |
Illinois
|
Additional Fund Details |
Overview: 274-bed new-construction student housing project located just 2.5 blocks off the University of Illinois campus. The university experienced record Fall 2019 enrollment of 51,196 and a record freshman class of 7,665. Its engineering and computer science programs are internationally recognized. Opportunity: Joint-venture equity offering of $8.075m; 60 percent of equity returned at stabilized refinance in year 3; 10-year IRR of 15.73 percent; Qualified Opportunity Zone |
Organization Details | Sponsor: Jackson Dearborn Partners & Green Street Realty, a partnership with nearly 3,000 units owned of multifamily and student housing in Central Illinois; 15 development projects in the pipeline |
Fund Contact | |
Name | Sean Lyons |
Job Title | Partner |
Phone | (312) 878-7363 |
slyons@jacksondearborn.com | |
Additional Comments | EXECUTION The partnership of Jackson Dearborn Partners, Sub4 Development, and Green Street Realty have been buying, building, and managing properties in the Campustown area near the University of Illinois for over 10 years. In the last 5 years alone, the partners have developed 17 student housing projects in the immediate area, currently leased to an occupancy just over 99%.
MANAGEMENT UNIVERSITY MARKET LOCATION CONSTRUCTION UNDERWRITING & EXIT |