JLL Secures $24 Million Refinancing for The Row Student Housing Near University of Florida for Ardent Companies
JLL has secured a $24 million refinancing for The Row, a 182-bed, Class-A student housing community located directly adjacent to the University of Florida campus in Gainesville, Florida, the firm announced July 15.
JLL represented the borrower, Ardent Companies, in arranging the three-year, floating-rate loan through GID.
Asset Profile and Leasing Performance
The Row, situated at 407 SW 13th St., is a seven-story building featuring 182 beds and 4,315 square feet of ground-floor retail space. The property has maintained 99% or higher occupancy since Fall 2023 and achieved 100% pre-leasing for the 2026–2027 academic year, accompanied by 4% year-over-year rent growth.
The building offers amenities including Latch smart entry systems, quartz countertops, in-unit washers and dryers, a resort-style deck with reflective pool, and study rooms on every floor. The refinancing was completed with the property's final retail space committed, according to the announcement.
"The refinancing of The Row reflects the strength of the asset and demand for well-located student housing in top-tier university markets," said Grayson Jacobs, Director at Ardent. "With the property fully occupied, pre-leased for the 2026–27 academic year and its final retail space committed, this refinancing marks another important milestone for The Row as it continues to deliver strong results."
University of Florida Market Fundamentals
The University of Florida enrolled a record 63,148 students in Fall 2025, according to JLL. The institution carries approximately 8,000 on-campus beds and imposes no live-on requirement, leaving more than 50,000 students seeking off-campus housing annually. JLL noted that only 705 new beds are expected to deliver during the next academic year. Enrollment growth has outpaced new bed deliveries by more than 2-to-1 over the past two years, the firm said.
Forbes ranked the University of Florida the nation's fifth-best public university in 2026 and designated it a "New Ivy," distinctions cited in the announcement.
"The Row exemplifies the strength of purpose-built student housing in premier university markets," said Melissa Rose, Senior Managing Director at JLL Capital Markets. "The property's immediate campus adjacency, contemporary design and exceptional pre-leasing velocity demonstrate the sustained demand for quality off-campus housing at flagship research institutions like the University of Florida."
Transaction Team and Lender
JLL Capital Markets' Debt Advisory team was led by Senior Managing Director Melissa Rose, Senior Director Mike Brady and Senior Analyst Christian Johnston. GID served as the lender on the transaction.
The Ardent Companies is a privately held real estate investment firm founded in 2015. The firm has completed more than $5.5 billion in transactions and maintains $3 billion in assets under management, operating from offices in Atlanta, New York, London, Charlotte, Los Angeles and Miami with a team of more than 55 professionals.
JLL Capital Markets operates as a full-service global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries.