Downtown Chattanooga's Walnut Commons selling for $15 million

photo Walnut Commons is located in downtown Chattanooga.

The owner of Walnut Commons, a 100-unit apartment complex that opened last year in downtown Chattanooga, is finalizing a deal to sell it for a reported $15 million to a Nebraska company.

John Clark, a partner in seller Walnut Commons LLC, said today that the ownership group plans to move onto other opportunities. He said the apartment complex at Walnut Street and Aquarium Way is 100 percent leased.

"We're happy with the way it turned out," he said.

The $11 million, four-story project was built above an expanded Little Miss Mag Early Learning Center on the first floor along with parking.

Jack Cassidy, president of buyer America First Real Estate Group of Omaha, Neb., said company officials like downtown Chattanooga a lot.

Earlier this year, the company bought the Bread Factory Lofts in the Southside.

See more in Thursday's Times Free Press.

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