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Logen Capital Acquires 576-Bed Student Housing Complex In Johnson City For $26.25M
SOLD
$26,250,000
Tennessee
See Similar DealsStudent Housing
Sold 06/18/2025
SOLD
Logen Capital Acquires 576-Bed Student Housing Complex In Johnson City For $26.25M
1109 University Parkway
See Similar DealsStudent Housing
Sold 06/18/2025
Summary
TENNESSEE
Asset Type:Student Housing
Transaction Type:Sale
The asset involved in the transaction is a student housing complex located at 1109 University Parkway in Johnson City, TN. The property, known as Monarch 815, comprises 576 beds and was sold for a total transaction amount of $26,250,000, which results in a price per unit of $45,573.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $26,250,000
- Units: 576
- Address: 1109 University Parkway
- Market: Johnson City, TN
- Buyer: Logen Capital
- Seller: 1109 University Parkway Holdings, LLC
- Broker Representatives: Mike McGaughy, Jon Kleinberg & Bradley Fulkerson - Transwestern
The transaction was facilitated through the RI Marketplace auction platform, with Transwestern handling the brokerage for the sale. Logen Capital, based in Atlanta, acquired the property from 1109 University Parkway Holdings, LLC.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,399,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$93,260.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$124,438.39
Annual Debt Service$1,493,260.71
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