Adobe Strikes Again

This investor might live in Texas, but it has hung its hat in Tennessee.

Oak Ridge_TennesseeOak Ridge, Tenn.—Adobe Properties is at it again. Just two weeks after announcing a 160-unit buy outside of San Antonio, the Dallas-based investor has struck again in Oak Ridge, Tenn. This time the firm added a 252-unit gated community known as Centennial Village to its portfolio.

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

Oak Ridge Apartments_Map

Courtesy Google Maps.

Oak Ridge is located about 10 miles west of Knoxville, Tenn. The Class A community rests on the shores of Melton Hills Lake, and features a saltwater swimming pool, fitness center and Internet café. Units also feature chef-inspired kitchens. The property is also adjacent to the Oak Ridge National Laboratory, which employs 4,400 scientists and engineers.

Abode Properties is a subsidiary of Transcontinental Realty Investors Inc., a Dallas-based real estate investment company.