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CHATTANOOGA, TN-A 156-unit apartment building in the northeast suburb of Hixson has sold for $6.2 million while in an unrelated transaction, the 138-room Days Inn Rivergate here has received a $3.6-million loan.

The Autumn Brook Apartments at 5555 Hixon Pike Rd. were sold by Chicago-based Jupiter Realty Corp. to Nashville, TN-based Carter Haston. Bo Brown of Atlanta, GA-based Brown Realty represented Jupiter Realty, which develops and invests in commercial real estate properties and businesses. Jupiter had owned the apartment complex since 1996.

Chicago-based Aries Capital provided the 10-year loan with 22.5-year amortization and a 65% loan-to-value for the limited-service Days Inn Rivergate at 901 Carter St., which includes Denny’s restaurant and Riley’s Irish Pub. Viru Patel of Sunshine Nationwide Financing was the broker.

“Our clients purchased this hotel in 1995 and since then have invested over $1.5 million for complete renovations,” says Aries Capital President Neil D. Freeman. “As a result, the value of the property has increased by over 200%.”

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