Dallas Investor Knocks at Knoxville’s Doors

A Tennessee community recently landed in the portfolio of a Dallas-based real estate investment company.

Oak Ridge, Tenn.—A class A multifamily community in Oak Ridge, Tenn., recently landed in the portfolio of a Dallas-based real estate investment company. Dubbed Centennial Village, the 252-unit community is located on the shores of Melton Hill Lake at 180 Waterview Drive.

Centennial Village

The community was acquired by Abode Properties. According to a prepared statement, the acquisition was spurred by the firm’s interest in emerging markets that have a sustainable and viable economy. The asset is expected to serve the housing needs of large regional employers such as the Oak Ridge National Laboratory, which employs over 4,400 scientists and engineers in the area.

Amenities include a saltwater swimming pool, a state-of-the-art fitness facility, and a custom Cyber Café.

“Centennial Village is another step toward expanding Adobe Properties’ geographic market. We’re happy to add this Tennessee property to our portfolio and to continue to expand and diversify geographically,” said Daniel J. Moos, chairman & CEO of Abode Properties.

Image courtesy of Yardi Matrix