A CBRE team comprising Brett Kingman, Russ Oldham and Steve Massey facilitated the sale of Arbors of Brentwood, a 20-building community in Nashville, Tenn. A joint venture between Redwood Capital Group and Investcorp was the seller. Dallas-based Highland Capital Management acquired the property, which previously changed hands in 2016 for $42.3 million, Yardi Matrix data shows.
Arbors of Brentwood comprises 346 one-, two- and three-bedroom units ranging in size from 603 to 1,289 square feet. Completed in 1986, the community had an average occupancy rate of 95 percent throughout the past year. Amenities include a recently upgraded health club, virtual fitness studio with spin bikes, business center, outdoor kitchen and fireplace, three swimming pools with expansive sundeck, pet park, playground and double-lighted tennis court.
Located on 40 acres at 100 Brentwood Place, the property sits close to one of the metro’s largest employment concentrations, the Maryland Farms office park. Nearby amenities include retailers, eateries and schools. Two bus stations are situated within walking distance.
Last June, the same CBRE team facilitated the sale of another Nashville, Tenn., community.