Non-Traded REIT Sells Student Housing Properties for $123 Million
Jones Lang Lasalle Income Property Trust, Inc. (JLLIPT), a daily valued non-traded REIT, closed on the sale of four student housing properties for $123 million.
As a result of the sale, the REIT used a portion of the proceeds to retire $71 million in mortgage loans associated with the properties.
LSH Acquisitions, L.L.C agreed to acquire the following four properties from JLLIPT:
- Cabana Beach San Marcos, San Marcos, Texas – provides housing for students attending Texas State University
- Cabana Beach Gainesville, Gainesville, Florida – provides housing for students attending University of Florida
- Campus Lodge Athens, Athens, Georgia – provides housing for students attending University of Georgia
- Campus Lodge Columbia, Columbia, Missouri – provides housing for students attending University of Missouri
