Construction loan and equity secured for Hartwell Ridge student housing at Clemson University

DALLAS, Dec. 4, 2024 –  JLL Capital Markets announced today that it has secured construction financing and equity placement for Hartwell Ridge, a 168-unit student housing community in Clemson, South Carolina.

JLL represented the developer, Fountain Residential Partners, in arranging the equity placement through FrontRange Capital and Atlantic American Partners. BankUnited provided the construction loan for the project.

Brent Little, CEO of Fountain Residential, says, “Fountain Residential has been in the Clemson market since 2019, and in that time the university has grown almost 13%.  We are seeing huge demand for new, well-designed communities in all the student housing markets Fountain Residential is pursuing new developments in.”

Fountain Residential Partners is continuing their longstanding relationship with Van Winkle Construction as General Contractor and construction is expected to be completed before the start of the Fall 2026 school year.

Hartwell Ridge is uniquely positioned at 10920 Clemson Blvd., bounded on two sides by Clemson University property. The development offers direct access to campus, restaurants and retail venues. Adjacent to Clemson's West Campus, it's near the Snow Family Outdoor Fitness & Wellness center, recreational sports fields and the Ravenel Research Center. The property is also close to the intersection of Davis Creek and HWY-76, providing additional amenities and connectivity.

Founded in 1889, Clemson University Clemson University continues to break enrollment records. Just this fall, the Clemson freshman class increased 12% from fall 2023 and the university received a record number of applications.

Hartwell Ridge will offer a unique unit mix of studio and five-bedroom apartments homes in a two-story, townhome design. Community features include a pool area, clubhouse, strength training and cardio center and multiple private study rooms.  Each fully furnished apartment home will feature condo-like finishes including wood-look flooring, granite countertops, queen sized pillow-top beds, 65-inch flat screen WiFi enabled TVs, stainless steel appliances, full-sized washer and dryers and ample surface parking. 

JLL Capital Market’s Debt and Equity Advisory team was led by Senior Managing Director Jeremy Sain, Managing Director Teddy Leatherman and Director Lauren Dow.

"We're thrilled to have secured both the construction financing and equity placement for Hartwell Ridge, a project that is strategically positioned to meet the growing demand in Clemson's student housing market,” commented Leatherman. “With its prime location adjacent to campus and high-quality amenities, Hartwell Ridge is set to provide an excellent living experience for Clemson's expanding student population. The successful arrangement of this financing package underscores the strength of the project and the continued investor interest in well-located, purpose-built student housing developments."

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.

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