SMYRNA, TN-Fireside Stoneridge LLC has acquired Stoneridge Farms, a 336-unit multifamily complex located at 400 Chaney Road in Smyrna, for $32.6 million or $97,000 per apartment. Flournoy Development based in Columbus, Georgia, was the seller of the property situated close to Sam Ridley Parkway interchange and Interstate 24. CBRE's Russ Oldham and Steve Massey negotiated the deal on behalf of the seller.
The apartment community, constructed in 2005, is 96% rented. Monthly rents range between $750 and $1,100. For the full story, go to Nashville Business Journal .
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