published Friday, August 15th, 2014

Luxury Collegedale apartments sold for $31.7 million

  • photo
    Construction is underway at Integra Hills Luxury Apartments complex in this file photo.

One of Collegedale's biggest apartment complexes has a new owner as it continues to add more units.

Integra Hills Luxury Apartments, a 300-plus unit complex of one- to three-bedroom units, was bought last week by Panther Chattanooga/Preserves LLC for $31.7 million. Lake Mary, Fla.-based Integra Land Co., which began construction of the facility on Little Debbie Parkway in 2011, had $19 million in the development prior to the sale.

The new owners have been managing Integra Hills for eight months. They are inheriting the facility as it gears up to expand its size by more than 60 percent.

Leslye Alba, leasing specialist at Integra Hills, said 218 more apartment units are in the works. The expansion is expected to be finished and move-in ready in about a year.

She said for the most part, floor plans will be similar and there will be minor tweaking in amenities, like the addition of stainless steel appliances and granite countertops. Day-to-day operations and management will not change much under the new ownership, Alba added.

She said the transition from Integra Land Development to Panther Chattanooga has been smooth.

"We love them," she said.

More information about the apartment complex is available at www.integrahills.com.

Contact staff writer Alex Green at agreen@timesfreepress.com or 423-757-6480.

about Alex Green...

Alex Green joined the Times Free Press staff full-time in January 2014 after completing the paper's six-month, general assignment reporter internship. Alex grew up in Dayton, Tenn., which is also where he studied journalism at Bryan College. He graduated from Rhea County High School in 2008. During college, Alex covered the city of Graysville and the town of Spring City for The Herald-News. As editor-in-chief of Bryan College's student news group, Triangle, Alex reported on ...

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