February 27, 2025 (press release) –
CHICAGO, Feb. 27, 2025 – JLL Capital Markets announced today that it has secured a financing for HERE Reno, a 636-bed, Class A student housing property serving student of the University of Nevada, Reno.
JLL represented the borrower, Article Student Living, in arranging the three-year floating-rate financing with PPM America Inc.
HERE Reno, located at 920 Evans Avenue, offers a pedestrian-to-campus location just across the street from the University of Nevada and within walking distance to downtown Reno, which features plenty of entertainment, retail and shopping opportunities.
Built in 2022, HERE Reno features a mix of studios, one-, two-, three-, four- and five-bedroom fully furnished apartments. The community offers luxury amenities including a 24-hour fitness center, study lounge with private rooms, hot tub and sun deck, coffee and breakfast bar, club room with kitchen and gaming zone and a club lounge.
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 and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Article Student Living
Article Student Living is a Chicago-based, vertically integrated real estate investment company specializing in acquiring, developing and operating Class A, purpose-built student housing assets across top-tier university markets in the US. Article has experience in over 70 university markets and continues to sustainably grow its portfolio of assets – prioritizing university market selection, value creation and asset composition. Article currently owns and manages 45 student housing properties comprising 25,000 beds. The firm is wholly owned by QuadReal, one of the top 20 largest real estate investors globally.
About PPM America Inc.
Their mission is to be seen by clients and their advisors as a consistently reliable partner to help them achieve their long-term value goals.
PPM is a US-based institutional asset manager with $74.42 billion in assets under management as of 30 December 2024.1 Established in Chicago in 1990, PPM exists to consistently support institutional clients in achieving their long-term value goals. They offer Midwestern mentality of hard work, straight talk, full transparency and humility. The company’s success is supported by a team-based culture that encourages debate, collaboration and consistency. At the center of their belief is the fact that their best ideas have and can come from any team member anywhere in the firm. PPM believes the success of their investment culture is best demonstrated by the strong retention of their clients and investment professionals. For more information, visit www.ppmamerica.com.
1 AUM includes committed but unfunded capital for PPM’s private equity and commercial real estate businesses. AUM includes both securities issued by PPM CLO vehicles held by PPM separately managed account clients and the underlying collateral assets of the CLO vehicles managed by PPM.
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