Logen Capital Purchases Student Housing Near East Tennessee State University For $26.3M

The transaction involved the sale of a student housing property located at 1109 University Parkway in Johnson City, TN. The asset type is classified as student housing and consists of 576 units. The property was sold for a total price of $26,300,000, resulting in a price per unit of $45,660.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: $26,300,000
• Buyer: Logen Capital
• Seller: 1109 University Parkway Holdings
• Brokers: Mike McGaughy, Jon Kleinberg & Bradley Fulkerson - Transwestern
• Units: 576
• Price Per Unit: $45,660

Transwestern arranged the sale of the property, known as Monarch 815, which is located near East Tennessee State University. The purchased community includes 176 furnished units along with amenities such as a pool and fitness center.