Whitestone Capital Acquires Student Housing In Tallahassee For $8.1M

The student housing property located at 400 Putman Drive in Tallahassee has been sold for a total of $8,100,000. The transaction took place on 11/03/2022 and involved a total of 80 units with a price per unit (PPU) of $101,250. The property consists of 320 beds, resulting in a price per bed (PPB) of $25,313.

Summary of transaction details

• Property Type: Student Housing
• Transaction Amount: $8,100,000
• Address: 400 Putman Drive, Tallahassee
• Units: 80
• Price Per Unit (PPU): $101,250
• Beds: 320
• Price Per Bed (PPB): $25,313

The buyer of the property is Whitestone Capital, while the seller is The Rosdev Group. The deal was facilitated by Benjamin Skinner and Matthew Prozzillo from Marcus & Millichap acting as the brokers in the transaction.