NASHVILLE-Des Moines, Iowa-based Principal Real Estate Investors, LLC has purchased Rolling Mill Hill, a three-building, 72-unit multifamily project on the edges of the Cumberland River, for $11.4 million. Atlanta-based Chartwell Real Estate Partners bought the three vacant buildings for $7 million in December 2010 and converted the condos into rentals.
Principal and SWH Residential Partners are planning to develop Rolling Mill Hill's second phase, which will contain 80 to 100 units and a parking structure. For the full story, go to Nashville Business Journal .
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