JOHNSON CITY, TENN. — Transwestern Real Estate Services has arranged the $26.3 million sale of Monarch 815, a 576-bed student housing property located at 1109 University Parkway near the East Tennessee State University campus in Johnson City.
Mike McGaughy, Jon Kleinberg and Bradley Fulkerson of the firm’s National Student Housing team represented the seller, an entity doing business as 1109 University Parkway Holdings, in the disposition. Logen Capital acquired the property via commercial real estate auction platform RI Marketplace.
Built in 2014, the community consists of four residential buildings offering 176 fully furnished units. Shared amenities include a resort-style pool, fitness center, private yoga studio, billiards room and a dog park.