Capstone Arranges $7.2 million sale of Apartment Community in Nashville Suburb

WHITE HOUSE, TN—Capstone Apartment Partners has closed the $7.2 million sale of Creekside at Deer Crossings: a 40-unit garden-style apartment community in the growing suburb of White House, just 25 miles from downtown Nashville. The property presents a unique opportunity to develop a phase II due to the adjacent ±3.6-acre lot, which is zoned, entitled, and permit ready for an additional 48 units.

Capstone sold Creekside at Deer Crossings on behalf of the California-based developer, Creekside Apartment Homes Inc., and procured the buyer, National Apartment Acquisitions, who is based out of Chicago.

National Apartment Acquisitions was attracted to the property due to its proximity to Nashville, construction quality, and premium finishes. Trading at $180,000 per unit, this transaction established the record for highest price per unit sold in the town of White House.

The Capstone Apartment Partners’ transaction team was led by Adam Klenk, Jonathan Hawks, Austin Heithcock, and Tyler Mayo.

Newly built in 2018, Creekside at Deer Crossings features one-, two-, and three-bedroom apartments and was operating at 100% occupancy at the time of closing. The community’s amenity package includes a jacuzzi and sundeck, fitness center, grilling area, pet park, community garden, and car care center. Each apartment home features hardwood-style flooring, ceiling fans, washer/dryer connections, and a fully equipped gourmet kitchen with custom cabinetry, granite countertops, and stainless-steel appliances. Select upper units feature lofted floor plans with high ceilings and bonus rooms. Select lower units boast large, private fenced-in yards.