Trophy multi-housing community in Cleveland hits the market

The Lumen was developed in partnership with Hines, a global real estate development firm founded in 1957 with presence in 255 cities and 27 countries and known for their high-quality, uber core projects across the globe.

Located at 1600 Euclid Ave., The Lumen is offers easy highway accessibility with a four-minute drive to I-90 and a five-minute drive to I-71. The property is proximate to more than 20 colleges and universities, including Case Western Reserve University, John Carroll University, Kent State University, The University of Akron and Cleveland State, as well as industry-leading healthcare, such as Cleveland Clinic, University Hospitals and Metro Health. Residents of The Lumen have numerous opportunities for nearby employment from the 20 Fortune 1,000 companies and over 600 international firms within northeast Ohio. Tower City Center, Steelyard Commons and Ridge Park Square provide residents retail options that are less than a ten-minute drive from the property. Additionally, the property is within close distance to the art experiences in the Playhouse Square District, professional sporting events, the 300 miles of outdoor park trails, the 23,700 acres preserved for parks and recreation and several beaches on Lake Erie.

The JLL Capital Markets Investment Sales Advisory team representing the seller is being led by Executive Managing Director Matthew Lawton, Managing Director Mark Stern, Managing Director David Gaines and Analyst Franklin Eruo.

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.