JLL Arranges $63.75 Million Refinancing for Mississippi State Student Housing
CHICAGO, June 11, 2026 — JLL Capital Markets has arranged a $63.75 million refinancing for The Vista Starkville, a 309-unit, 820-bed student housing community serving Mississippi State University in Starkville, Miss., the firm announced. QuadReal provided the three-year, floating-rate loan, with JLL representing the borrower, Student Quarters, in the transaction.
Deal Structure and Financing Terms
The financing consists of a $63.75 million, three-year, floating-rate loan originated by QuadReal Property Group, a global real estate investment, development and operating company headquartered in Vancouver, British Columbia. QuadReal manages $98.5 billion in assets under management and invests across equity and debt in both public and private markets globally.
Student Quarters, the borrower, is a nationally recognized student housing owner and operator with more than $1.3 billion in assets under management and over 12,000 beds under management. The company's vertically integrated platform combines acquisitions, asset management and property operations.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Gregg Shapiro, Senior Director Mike Brady, Director Sam Tarter, Senior Analyst Christian Johnston, and Associate Connor McCarthy.
"The Vista Starkville represents best-in-class student housing serving one of the Southeast's most dynamic university markets," said Shapiro. "The property's excellent location, strong occupancy performance, and Student Quarters' proven operational platform made this an attractive refinancing opportunity for lenders."
Property Overview
Built in 2019, The Vista Starkville is located approximately half a mile from the Mississippi State University campus. The property offers 309 units across a mix of studio through five-bedroom configurations, with an average unit size of 1,000 square feet. The community is currently 97% occupied for the 2025–2026 academic year.
Amenities at the property include a fitness center, social lounge, resort-style pool with jumbotron, and private resident parking. The building also includes ground-floor retail space occupied by Boardtown Pies & Pints, a locally owned Neapolitan-inspired restaurant that was featured on "Barstool Pizza Reviews" in 2025 and declared the "best pizza in Starkville."
University Market Context
Mississippi State University reported record enrollment of 23,563 students for the 2025–2026 academic year, representing nearly 11% growth over the past decade. The university holds the Carnegie R1 Research Classification, a designation awarded to fewer than 5% of universities nationwide. Mississippi State carries a $3.9 billion annual economic impact and recently doubled its fundraising campaign goal to $4 billion over the next eight years to support academic innovation, campus infrastructure, student scholarships and research initiatives.
About the Firms Involved
JLL (NYSE: JLL) is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in over 80 countries. The firm employs more than 113,000 people as of March 31, 2026, and serves clients across office, industrial, retail, hotel, multi-family and data center property types. JLL Capital Markets operates with more than 3,000 specialists worldwide across nearly 50 countries, offering services including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity and fund placement, net lease, derivative advisory, and energy and infrastructure advisory.
Student Quarters has operated as a vertically integrated student housing platform since 2013. QuadReal Property Group, the lender in this transaction, manages $98.5 billion in assets under management and has expanded its investment capabilities globally across both equity and debt strategies in public and private markets.