Capstone Closes $21.74 Million Sale of 180-Unit Apartment Asset in Chattanooga

CHATTANOOGA, TN—Capstone Apartment Partners arranged the $21.74 million sale of The Grove at Hickory Valley: a 180-unit garden-style apartment community located at the junction of Highway 153 and Interstate 75 in west Chattanooga, Tennessee.

The Capstone transaction team was led by Nashville-based Austin Heithcock, Tyler Mayo, Adam Klenk, Jonathan Hawks, Luke Searcy, and Jordan Arand, who sold the property on behalf of The CF company. The buyer is National Apartment Partners.

Built in 1980 and fully renovated in 2018, The Grove at Hickory Valley is comprised of studio, one-, two-, and three-bedroom apartment homes featuring wood-style flooring, grey flat-panel cabinetry, granite countertops, subway tile backsplash, stainless-steel appliances, ceiling fans, and a patio or balcony.

Community amenities include a gated entrance, swimming pool, fitness center, clubhouse, picnic/grilling area, pet play area, and laundry facilities. The Grove at Hickory Valley was approximately 97% occupied at the time of closing.

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