JLL Capital Markets led financing efforts for the 630-bed student housing property with ground floor retail and restaurants serving Clemson University
JLL Capital Markets announced today that it has arranged $23.335 million in joint venture equity for the development of Dockside Clemson, a to-be-built, lakefront 630-bed student housing community serving Clemson University in Clemson, South Carolina.
JLL worked on behalf of Fountain Residential Partners to secure the equity through CrowdStreet, Inc.
Anticipated to deliver in fall of 2022, Dockside Clemson will offer 200 student housing units in four-story residential structures alongside 22,164 square feet of ground floor retail. Units will be available in studio, one-, two-, three- and four-bedroom layouts averaging 1,206 square feet each. Dockside will offer an upscale living experience with fully furnished units, each offering a private bathroom per bedroom, high speed internet, walk in closets and 55” HD flatscreen tv’s in the living areas. Additionally, the retail space will boast two signature restaurants. Community amenities will include a fitness center, pool, parking, tech lounge, dock access and live music along the lake front.
Dockside Clemson sits on approximately 460 feet of waterfront on Lake Hartwell and is the only student housing community with waterfront access in Clemson. Situated less than one mile north of Clemson Tiger’s famous “Death Valley” football stadium, the property exceptional visibility along Tiger Boulevard and Highway 123 and offers direct access to the CATbus Seneca Express Line with service to campus and the surrounding communities.
Stuart Roosth Architects designed the property, with LRK providing planning services. Kimley-Horn is the civil engineer, with Sherman Construction as the general contractor.
The JLL Capital Markets team representing Fountain Residential Partners was led by Managing Director Jeremy Sain and Directors Teddy Leatherman, Scott Clifton, Stewart Hayes and John Gavigan.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
About Fountain Residential Partners, LLC
Fountain Residential Partners, LLC is a privately held Dallas-based multifamily real estate development, acquisition, and asset management company. Fountain Residential is managed by seasoned real estate professionals that have a combined experience of over 60 years in the industry having completed over $1.5B in student housing projects.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
