MEMPHIS, TN—Capstone Apartment Partners has arranged the sale of Pendleton West: a 182-unit apartment community in southeast Memphis near Nash Buckingham Park.
The Capstone transaction team was led by Nashville-based Tyler Mayo and Luke Searcy. The seller, Astro at Dyer Holding Company, acquired the property in 2017.
The asset is currently 56% occupied. The new owner plans to renovate the 70 down units, address deferred maintenance, and enhance the community’s amenity package.
Built in 1964, Pendleton West is comprised of one- and two-bedroom apartment units. Community amenities include a playground and laundry facilities.