HATTIESBURG, MISS., AND RUSTON, LA. — Marcus & Millichap has arranged the $39 million sale of two student housing properties in separate sales in Hattiesburg and Ruston. The 216-unit Eagle's Trail Apartments, located at 8 Eagle's Trail in Hattiesburg, one mile from the University of Southern Mississippi, has been sold to a large student housing REIT for $20 million. Additionally, the 144-unit University Crossing, located at 1201 W. California Ave. in Ruston, adjacent to Louisiana Tech University, has been purchased by a private investment group for $19 million. Ray Turchi of Marcus & Millichap's Orlando, Fla., office represented the seller of the two properties, Ken Dixon, a private investor, in both transactions. Gregory Wilson, also of Marcus & Millichap's Orlando office, procured both buyers. William Hoffpauir of Marcus & Millichap's Lafayette, La., office also represented the buyer of University Crossing.
The 144-unit University Crossing in Ruston, La., sold for $19 million.
M&M BROKERS $39M SALE OF TWO STUDENT HOUSING PROPERTIES
335