Multi Housing Advisors (MHA) has arranged the $13.8 million sale of Green Leaf at Hermitage, a 261-unit apartment community in Hermitage, Tennessee.
Brett Kingman, a director in MHA?s Atlanta office, represented the sellers, affiliates of Danville, California-based Green Leaf Partners, in the transaction. The buyer, an affiliate of Old Tappan, New Jersey-based Spyglass Capital Partners, did not use a broker.
?Green Leaf at Hermitage is a unique value-add opportunity in a growing suburb of Nashville,? Kingman said. ?As the overall Nashville economy continues to thrive, we continue to see increased investor demand for well-located assets due to improving market fundamentals.?
Green Leaf at Hermitage was built in 1973 and includes one-, two- and three-bedroom layouts. Amenities include a fitness center, playground, swimming pool, business center, laundry facilities and a picnic area.
The buyer plans to upgrade the interiors and exterior of the property.
About Multi Housing Advisors:
Multi Housing Advisors (MHA) has become known as a solid leader in the multi housing industry. The company, founded in 2002, was established to bring a focused brokerage platform to growing markets throughout the Southeast. Since that time, MHA has created value for clients in virtually every sector of the multi-housing market. The MHA team works hard to build and enhance value by leveraging strong attention to detail, accessing an active investor base and capitalizing on its vast market knowledge in ways that benefit every aspect of the transaction process.
MHA enjoys a total sales transaction volume that has surpassed $2.8 billion, representing more than 87,000 units and more than 550 individual transactions. MHA serves local, regional and national clients and has become known for its effective multi-office platform, excellent transaction history and rapid growth.
For more information, visit www.usmha.com.
Stories you Need to Know
Commercial Real Estate