Berkadia Arranges $46M-Plus Multifamily Sale
The firm completed the sale of a 364-unit Tennessee community, on behalf of Stoneleigh Companies.
CLARKSVILLE, TN – Berkadia has completed the $46.5 million sale of a multifamily property in Clarksville, Tennessee, on behalf of the Arizona-based seller, Stoneleigh Companies.
The 364-unit community, Waterford Landings, features studio, one-, two- and three-bedroom floorplans, offering dishwashers, air conditioning and walk-in closets. Community amenities include laundry facilities, a barbecue area and two swimming pools.
Located at 135 Westfield Court, the property allows convenient access to Interstate 24 and Route 79.
The community underwent strategic improvements to the units and common areas at the time of the sale, for further future revenue growth.
The property was purchased by Texas-based, WAK Management. The deal closed on October 23rd.
Senior director of Berkadia’s Memphis office, Patrick Jordan and senior managing director of Berkadia’s Chicago office, Alex Blagojevich, arranged and finalized the sale on behalf of the Stoneleigh Companies.
Berkadia offers a variety of services to multifamily and commercial property clients, as a joint-venture of Berkshire Hathaway and Jefferies Financial Group.