The Chetrit Group has sold a three property portfolio in Memphis, Tennessee with 802 units to Capstone Realty and Management for $33.1 million.
Rosewood Realty Group, led by founder and CEO Aaron Jungreis, represented both the seller and the buyer.
The portfolio consists of three, two-story properties built in the 1970′s: The Lakes at Ridgeway, at 5995 Waterstone Oak Way with 374 units and 759 on-site parking spaces; Stonegate Apartments at 4500 Stonegate Drive with 208 units and 425 parking spots and The Reserve at Mount Moriah at 2778 Pickering Drive with 220 units and 450 parking spots.
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