COMING SUNDAY:Read about Chattanooga’s apartment construction boom.
APARTMENT SALESAmong apartment complexes sold over the past six months in just downtown Chattanooga:• Marion Apartments• Stewart Apartments• 604 East Fourth Street Apartments• Jefferson Apartments• Wanda Apartments• 615 Lindsay Street Apartments• 418 Vine Street Apartments• 611 Houston Street Apartments• 528 East Eighth Street Apartments• 828 Flynn Street Apartments• 856 McCallie Avenue Apartments
The Chattanooga area’s hot apartment market continues to sizzle with Red Bank complexes drawing lots of attention from buyers.
Mountain Brook Apartments on Mountain Creek Road in Red Bank has been sold for nearly $20.7 million, one of the largest transactions in the local market for an apartment complex.
Also, an Australian group has weighed into the area’s apartment market in a major way, either buying or planning to purchase 220 units in Red Bank. Falcon Venture Capital has paid $2.7 million for a 100-unit complex and has plans to buy 120 more units for another $4 million, said Chattanooga real estate broker Marcus Lyons.