The plan is to convert the asset into up to 600 apartment units.

Through the fund, 70 percent of the capital has been committed to 70 properties.

The bank is also adding 26,000 square feet of space.

The asset features two buildings.

JLL closed the $50 million sale.

The firm is acquiring 100 total units.

The move take's the company's student housing loan portfolio to $850 million

The assets are located in 10 states and are fully occupied.