Triad Real Estate Partners closed the sale of a 72-unit, 108-bed student housing property at Missouri State University in Springfield, Missouri.
800 South is a new-construction asset that was developed in 2018 as a mix of one- and two-bedroom units. It is located about four blocks from the Missouri State University campus.
The property was 98 percent occupied for its first full year of operaton and was 100 percent occupied for the 2019-2020 school year. The property sold for a total price of $9.1 million.
The sellers were local developers. The buyers were a Chicago-based private real estate investment firm.