April 6, 2016
Champion Real Estate Co. has acquired the newly constructed, 82-unit Village Green Hills Apartments in Nashville, TN. The Los Angeles-based buyer paid $22.5 million for the asset, which was built by local developer Brent Smith. Miller F. Harris of Brentwood, TN-based Kirkland Co. brokered the transaction.
The new owner’s plan is to install professional local management. “The quality of construction, consisting of large floor plans and high-end finishes, combined with the core location and high barriers to entry, provide for the ability to achieve top market rents,” said Parker Champion, senior vice president of the property at 2215 Abbot Martin Rd.
Champion currently owns six multifamily properties consisting of 200 units in the Nashville area. The company is looking for additional value-add properties throughout the area.