Champion Sells Suburban Nashville Community for $24M
The new owner received a 10-year, $14.3 million acquisition loan from Nationwide Life Insurance Co.
Village Green Hills. Image via Google Street View
Champion Real Estate Co. has completed the $23.8 million disposition of Village Green Hills, an 83-unit community in Nashville, Tenn. A private investor acquired the property, according to Davidson County records. Nationwide Life Insurance Co. originated a $14.3 million acquisition financing package which matures in February 2031.
The asset last changed hands in April 2016, when Champion acquired it from a private investor for $22.5 million, Yardi Matrix shows. CBRE provided a 10-year, $14.7 million Fannie Mae loan for that purchase.
Located on 2 acres at 2215 Abbott Martin Road, the property encompasses three buildings completed in 2010 and 2014. The unit mix has studio and one- to three-bedroom floorplans ranging between 500 and 1,512 square feet. The community also has nine fully furnished units reserved for corporate housing, according to Yardi Matrix. Amenities include a dog park, community room and open-air kitchen.
The site is close to the busy retail corridor along Hillsboro Pike, which includes The Mall at Green Hills, an 861,000-square-foot shopping center owned by Simon Property Group and Taubman Realty Group. The community is 5 miles southwest of downtown Nashville.
Last year, Champion paid $14.1 million for a 102-bed student housing property in Los Angeles. The asset is the firm’s third community near the University of Southern California.
