CLARKSVILLE, TN—Capstone Apartment Partners has brokered the $8,100,000 sale of Peacher’s Mill Court Townhomes: a 66-unit gated townhome community located in Clarksville, Tennessee—just 50 miles northwest of Nashville.
Capstone represented the seller, All 50 Investments, LLC, and also procured the buyer, Cider Moon Investment Group.
Constructed in 1995, Peacher’s Mill Court Townhomes is comprised entirely of two-bedroom, one and a half bath townhomes. The out of state seller purchased the property in 2017 and renovated over half the units with wood-style vinyl flooring, white cabinetry, granite-style countertops, subway tile backsplash, and new appliances.
The out of state buyer was attracted to the property due to their ability to continue implementing the proven value-add strategy of the seller as well as expand their holdings throughout middle Tennessee.
The Capstone transaction team was led by Tyler Mayo, Adam Klenk, Jonathan Hawks, and Austin Heithcock. This is the firm’s second recent closing of a Clarksville townhome community. In October, Capstone arranged the $4,000,000 sale of Thistlewood Townhomes less than 3 miles away from Peacher’s Mill Court.
According to Mayo, “Peacher’s Mill offered investors an incredible opportunity to acquire a unique asset located in a private, gated cul de sac with a proven value-add story in place. Ultimately, our marketing campaign resulted in over 30 property tours and 24 LOIs, mostly from out of state investor groups looking to enter the market or expand their current holdings in Clarksville.”