Balfour Beatty Acquires 592-Bed Student Housing Property In Tallahassee For $51.3M

Oktiv, a 592-bed student housing property in Tallahassee, FL, has been acquired by Balfour Beatty Communities for $51.3 million. The property offers modern amenities and is strategically located near universities and retail options.

Summary of transaction details

• Property Type: Student Housing
• Transaction Amount: $51,300,000
• Address: 222 North Ocala Road, Tallahassee
• Market: Tallahassee

Balfour Beatty Communities, represented by Christopher Williams, purchased Oktiv from the Tailwind Group. The lender for this transaction was Walton Street Capital LLC, with Berkadia serving as the mortgage broker. The deal involved 168 units, with a price per unit of $305,357. The property comprises 592 beds, resulting in a price per bed of $86,655.