EDGE These are the top 10 biggest property sales in the Chattanooga area for the fiscal year

EDGE These are the top 10 biggest property sales in the Chattanooga area for the fiscal year

August 1st, 2017 by Dave Flessner in EDGE

In the fiscal year ended June 30, 2017, real estate sales totaled nearly $2.63 billion in Hamilton County. In the 12-month period, 14,154 properties changed owners. The biggest sales involved purchases of apartment complexes. They were:

1. Legends at White Oak in Collegedale, a 312-unit apartment complex built in 2015, sold for $41.8 million to Olympus Property in Fort Worth, Texas.

2. The Village at Apison, a 248-unit apartment complex built in 2015, sold for $31.9 million to a partnership organized by the Hudson Group in East Rutherford, New Jersey.

3. Elements of Chattanooga, a 260-unit apartment complex at 7420 Standifer Gap Road, sold for $31 million to POH Hunters Point LLC in Hollywood, Florida.

Photo by Contributed Photo /Times Free Press.

4. The District at Hamilton Place, a 300-unit apartment complex at 1920 Gunbarrel Road, sold for $28 million to Shores Calhoun LLC in Hopkins, Michigan.

5. Standifer Place Apartment Homes, a 240-unit apartment complex built in 1998 at 3400 Jenkins Road, sold for $25.5 million to Graycliff Capital in Greenville, South Carolina.

6. The 108-bed Life Care Centers of America nursing home in East Ridge was sold for $24 million after its completion to an investment group organized by Life Care.

7. Mountain Creek Apartments, a 296-unit apartment complex on Mountain Creek Road, sold for $20 million to Radco Cos. of Atlanta.

8. The 109-unit Residence Inn by Marriott and the adjacent 87-room TownePlace Suites by Marriott, both located on Center Street near Lee Highway and the Hamilton Place Mall, sold for $18.8 million to American Hotel Income Properties REIT LP, based in Vancouver, British Columbia.

9. Northtown Village, a 180-unit apartment complex at 1011 Gadd Road in Hixson, sold for $14.25 million to Pinnacle in Addison, Texas.

10. Autumn Brook Apartments, a complex of one- and two-bedroom apartments built in 1989 at 555 Hixson Pike, was sold to investment partnership, Autumn Brook Apartments LLC , in Spring Valley, New York for $10.8 million.


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