CLARKSVILLE, TN — Capstone Companies has brokered the $3.3M sale of Crossland Manor: a 48-unit garden style multifamily apartment community constructed in 2008 and located in Clarksville, Tennessee.
Capstone Director, Austin Heithcock, led the Capstone transaction team along with Partner, Adam Klenk, and Investment Sales Advisors, Jordan Arand and Josh White. They facilitated the sale between RWA/Crossland Manor, LP, the original owner and developer of the property, and Blue Chip Equities.
Crossland Manor operates in conformance as a Low-Income Housing Tax Credit (LIHTC) project. The well-maintained asset features two- and three-bedroom units and is ideally located in the booming Clarksville MSA less than five minutes southeast of the heart of downtown and directly off Crossland Ave. The property is surrounded by multiple retail centers all less than five miles of the property and is less than two miles from 1604 Madison, a major retail development anchored by Lowe’s. Crossland Manor was 98% occupied at the time of the sale.
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