DALLAS, Dec. 18, 2025 –  JLL Capital Markets announced today that it has arranged the sale and financing of a portfolio of three purpose-built student housing assets with approximately 2,300 beds.

JLL represented the seller group to complete the sale to Stonepeak and Cardinal Group. JLL's Student Housing Investment team completed the transaction through the firm's national platform.

The properties were built on average in 2020 and offer modern amenity packages including resort-style pools, fitness centers, study lounges, game rooms and furnished units with contemporary finishes. The assets are located on average 0.1 miles from campus at leading 4-year public universities with an average enrollment of 40,000 students.

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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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 113,000 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 WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com. 

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $79.9 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include transport and logistics, digital infrastructure, energy and energy transition and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi and Riyadh. For more information, please visit www.stonepeak.com.

Cardinal Group Companies (“CGC”) is a fully integrated real estate management, investment, construction, consulting, and marketing firm focused on multifamily and student housing throughout the country. Headquartered in Denver, Colorado, CGC affiliate companies are all firmly built atop the company’s “Cardinal Culture.” Since 2007, CGC has been operating successful partnerships, focused on creating efficiency and above-market performance via their commitment to challenging the status quo of the industry. Cardinal Group Companies’ management platform oversees over 110,000 student housing beds and more than 15,000 conventional and affordable housing units nationwide.