Logen Capital Acquires 576-Bed Student Housing Complex In Johnson City For $26.25M

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.