NASHVILLE, TN—A seven-property apartment portfolio located in Clarksville, TN and Oak Grove, KY has changed hands in a deal valued at $47.24 million.
The transaction was announced by brokerage firm Marcus & Millichap. David Stollenwerk, an associate in Marcus & Millichap’s Nashville office, represented the seller—a Tennessee limited-liability company and procured the buyer, an out-of-state limited-liability company. Aaron Johnson, Marcus & Millichap’s broker of record in Kentucky, assisted in closing the sale transaction.
“The portfolio is a well-performing, stabilized, value-add opportunity in one of the most dynamic markets in the Southeast,” says Stollenwerk. “These are high-quality assets with in-place cash flow and upside attainable through interior renovations.”
The Tennessee-Kentucky Multifamily Portfolio is located in Clarksville, TN and less than 11 miles away in Oak Grove, KY. The properties, which are approximately 40 miles north of Nashville, are: Heritage Point, Blue Grass Meadows, Parkway Place, Cobblestone, Newton Place, Whitehall Townhomes and Whispering Hills.