MTN Investment Group Acquires Student Housing Asset In Athens, GA For $21.1M | 175 Tracy Street | MultiFamily | Sale

Summary

Sale

GEORGIA

MultiFamily

65,574 sqft

The 108-bed student housing asset located at 175 Tracy Street in Athens, GA has been sold for a price of $21,100,000. The property spans across 65,574 square feet, resulting in a price per square foot of $322. The transaction was completed on 12/29/2023.

Summary of transaction details

Property Type: Student Housing
Transaction Amount: $21,100,000
Number of Units: 108
Price per Unit: $195,370
Square Footage: 65,574
Price per Square Foot: $322
Market: Athens, GA

This acquisition was made by MTN Investment Group, represented by Russell Nova, Charles Taylor, Nitzan Mosery, Biff Ramsery, Beth Underhill, and Bradley Seidel. The seller, Chase Lawsonse, facilitated the sale. MTN Investment Group specializes in purchasing multifamily and student housing properties, with a focus on growth factors. This particular student housing asset is unique as it includes a blend of retail spaces, making it a community-oriented property. It was awarded "Best New Boutique Development in America" by Student Housing Business in 2022. The property presented an opportunity for substantial upside, as the average rental income per unit was lower compared to other student housing buildings in the immediate area.

Note from Buyer: @MTN_IG (MTN Investment Group) is actively seeking opportunities to expand their portfolio with real estate properties. They prioritize building relationships and engaging in off-market transactions to negotiate favorable terms. This purchase marks their second student housing acquisition in 2023. To get involved or learn more about MTN Investment Group's offerings, interested individuals can contact Beth Underhill, the Chief Marketing Officer and Investor Relations, at [email protected] or reach out to Russell Nova, Nitzan Mosery, Charles Taylor, Biff Ramsey, Bradley Seidel, or Katie Wray - Director of Investor Relations at [email protected]. Additional information is available on their website at www.MTNINVESTMENTGROUP.com.

Details

Deal Summary

SOLD

IMAGE: Nitzan Mosery, Bradley Seidel, Russell Nova, Beth Underhill, Charles Taylor & Biff Ramsery, DATE: 12/29/2023 ADDRESS: 175 Tracy Street MARKET: Athens, GA ASSET TYPE: Student Housing BUYER: Russell Nova (@RussellNova), Charles Taylor, Nitzan Mosery (@Thetravelinginvestor), Biff Ramsery, Beth Underhill (@Investingwithbeth), Bradley Seidel (@B_radSeidel) - MTN Investment Group (@MTN_IG) SELLER: Chase Lawsonse SALE PRICE: $21,100,000 UNITS: 108 ~ PPU: $195,370 SF: 65,574 ~ PPSF: $322 NOTE FROM BUYER: @MTN_IG (MTN Investment Group) had the pleasure of purchasing this 108 BED, Student Housing Asset with a blend of retail, which makes it a very unique community-oriented property. This property was built in 2022 and was awarded "Best New Boutique Development in America" by Student Housing Business. This asset at contract signing was receiving an average of 1100-1200 per unit while 2012-2016 Vintage Student housing in the immediate area were collecting 1600-1700 Per Unit, which gives us substantial upside at takeover. MTN Investment Group is Real Estate Investment Firm geared towards purchasing Multifamily and Student Housing with growth factors in mind. Relationships are key in this business, and this was an Off Market Transaction which allowed us to negotiate terms in our favor. This marks MTN INVESTMENT GROUP's, second student housing purchase in 2023 If you are looking for opportunities to GROW your portfolio passively, reach out to us and get INVOLVED in our Real estate properties. Give us a RING and speak to our Stellar TEAM Beth Underhill, Chief Marketing Officer / Investor Relations [email protected] CONTACT US or visit our website www.MTNINVESTMENTGROUP.com Russell Nova, Principal Nizan Mosery, Principal Charles Taylor, Principal Biff Ramsey, Chief Operating Officer Brad Siedel, Chief Technology Officer Beth Underhill, Chief Marketing Officer Katie Wray - Director of Investor Relations [email protected]

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Address175 Tracy Street

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