Capstone Arranges Tennessee Luxury Community Sale
- Sep 21, 2020
Capstone Apartment Partners has arranged the $9.5 million sale of The Villages of Campbell Oaks, a 96-unit luxury community in Jackson, Tenn. Capstone’s Adam Klenk, Tyler Mayo, Austin Heithcock and Jonathan Hawks led the negotiations.
Situated on more than 16 acres at 1000 Willow Oak Lane, the asset was built in 2014 and consists of seven three-story buildings with one- to three-bedroom apartments averaging 945 square feet. Amenities include a swimming pool and clubhouse with a billiards lounge, a fitness center and laundry facilities. According to Capstone, the community was roughly 95 percent occupied at the time of sale. Aside from the residential buildings, the property also includes a vacant parcel already approved for the second-phase development of another 96 units.
The Villages of Campbell Oaks is located some 5 miles north of downtown Jackson, just south of Interstate 40. Nearby the property are a variety of shopping and dining options alongside the North Highland Avenue corridor, less than 2 miles to the west.
In August, a Capstone brokerage team facilitated the $37.2 million sale of a 423-unit community in Gastonia, N.C. Austin Green, Alex McDermott, Rhodes Marley and Brian Ford represented the seller and procured the buyer in the deal.