X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Chattanooga, TN-based Hurd Real Estate Associates has purchased the 25-year-old 170-unit Concorde Apartment complex for $5 million or $29,412 per unit from an undisclosed seller.

Mona Carlton, senior director of the Dallas office of Irving, TX-based Holliday Fenoglio Fowler, arranged the $4.6-million, three-year, fixed-rate acquisition financing for Hurd through Minneapolis-based U.S. Bancorp Asset Management, Inc.

The property at 7301 East Brainerd Road is 70% leased. It consists of 100 one-bedroom, 60 two-bedroom, and 10 three-bedroom units.

A Chattanooga rental agent tells GlobeSt.com that one-bedroom units rent for $455 a month, and three-bedroom units rent for $695 a month.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.