KNOXVILLE, TN—Capstone Apartment Partners has closed the $14 million sale of Bouldercrest Apartments: a 180-unit apartment community located along Interstate 640 in Knoxville, Tennessee.
Capstone’s Adam Klenk, Tyler Mayo, Luke Searcy, and Jordan Arand sold the property on behalf of Bouldercrest GP. The Northeast-based buyer plans to modernize unit interiors and enhance the community’s amenity package.
“We appreciate the Capstone team’s diligence and patience in closing the property. They kept us informed of the progress throughout the entire process and assisted with all of the negotiations,” said Bradford Dessy of Bouldercrest GP.
“The marks our second transaction with the Capstone Nashville team. We appreciate their effort in helping us get to the finish line and we look forward to enjoying a long, successful relationship with them,” the buyer added.
Built in 1986, Bouldercrest Apartments is comprised of studio, one-, and two-bedroom apartment homes with fully equipped kitchens, vaulted ceilings, washer/dryer connections, walk-up attic storage, and a patio or balcony. The community was approximately 96.1% occupied at the time of closing.