By Adelina Osan, Associate Editor
Nashville, Tenn.—Champion Real Estate Co. recently announced the acquisition of an 82-unit multifamily community in Nashville, Tenn. The property known as Village Green Hills Apartments was purchased for $22.5 million.
Located at 2215 Abbott Martin Road, Village Green Hills Apartments is situated within the Green Hills submarket, in close proximity to local attractions such as Green Hills Mall and Hill Center. The newly-constructed property features two- and three-bedroom floorplans with sizes ranging between 968 and 1,512 square feet. According to Yardi Matrix, rents at Village Green Hills Apartments range between $1,850 and $2,950. The community’s amenity package includes controlled access, waterscape, community room and 180 parking spaces.
“The quality of construction, consisting of large floor plans and high-end finishes, combined with the core location and high barriers to entry, provide for the ability to achieve top market rents,” Parker Champion, senior vice president of Champion, said in a prepared statement.
Champion plans to install professional Class A local management. In Nashville alone, Champion and its affiliates currently own six multifamily properties consisting of nearly 200 rental units with product ranging from entry-level studios and student housing to high-end townhomes. The company is actively seeking additional value-add properties throughout Nashville to continue to grow its portfolio.
Image courtesy of Yardi Matrix