MAA Sells Cedar Mill Apartments in Southeast Memphis

By GlobeSt News Hub

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(Mark Your Calendars: RealShare Apartments East, February 15^th in Washington, DC).

MEMPHIS-Orlando, Florida-based Cedar Mill LLC has paid $7.25 million for Cedar Mill Apartments, 276-unit apartment community at 3505 S. Mendenhall in Southeast Memphis. Mid-America Apartments LP, a company associated with Mid-America Apartment Communities Inc., was the seller of the apartment complex.

Cedar Mill Apartments, constructed in two stages in 1974 and 1986, sits on a 13.9-acre land. Mid-America Apartments sold $24 million in assets in 2011 as part of its plan to recycle its portfolio. For the full story, go to Memphis Business Journal .

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Categories: Southeast, Multifamily, Acquisitions/Dispositions, Sales, Scope, Memphis