Investors Snap Up More Nashville Apartments
A value-add real estate fund managed by Nashville-based investment manager Covenant Capital Group acquired two Nashville-area apartment properties recently for $15M. One of the properties is the 170-unit Prestige Pointe Apartments at 200 Paragon Mills Road, which fetched $8M, the Tennessean reports. The south Nashville apartment property was formerly known as Paragon Place apartments.
The Covenant Capital-managed fund also paid $7M for the 114-unit Premier West Apartments at 6565 Premier Drive in west Nashville. It was previously known as Sequoia Village apartments.