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EAST LANSING, MICH. — Triad Real Estate Partners has arranged the sale of Block 36, a student housing property located three miles north of the Michigan State University campus in East Lansing, for $13.3 million. The sales price of Block 36 equates to $30,716 per bed and a 6.3 percent capitalization rate. The 433-bed property was originally built in 2001 and underwent a renovation in 2013 that included the addition of an extensive amenity package. The buyer was a San Diego-based family investment trust that already owned several apartment properties in Michigan. The seller was a private ownership group based in San Francisco whose plan was to sell the asset following the renovation and full stabilization of the property.