SMYRNA, TN—Capstone Apartment Partners has arranged the $7.8 million sale of Chalet Apartments: a garden-style apartment community in the growing Nashville suburb of Smyrna. The property is ideally located adjacent to the sprawling 48-acre Gregory Mill Park and within a mile of several restaurants and grocery stores. Additionally, Chalet Apartments is within a mile and a half of Nissan’s Smyrna assembly plant, which employs approximately 8,000 people.
Capstone’s Nashville office—led by Austin Heithcock, Adam Klenk, Jonathan Hawks and Tyler Mayo—represented the sellers, Jerry and TJ Compton. The property was sold off-market to Nashville-based Brookside Properties, who has interior and exterior improvements planned in order to bring apartment finishes and community amenities up to market.
“The Nashville MSA continues to experience explosive growth in both population and employment. Investors are looking for opportunities across all asset classes—especially when they are located in path of growth areas like Smyrna,” said Heithcock.
Built in 1973, Chalet Apartments is comprised of 96 two-bedroom apartment homes in 12 two-story buildings. The community’s amenity package features a swimming pool, outdoor recreation space, and laundry facilities.
About Capstone Apartment Partners
The goal of Capstone is to help generate, maintain, and increase the value and profitability of our clients’ multi-family investment properties. To do so, we provide comprehensive multi-family advisory services in asset acquisition and development, strategic ownership decisions, market insight and positioning, property value analysis, and disposition brokerage to support our clients in every stage of ownership. This comprehensive multi-family-focused service offering paired with our relentless drive to win on behalf of our clients is what sets us apart from pedestrian brokerage firms. Capstone simply put: Expertise. Experience. Extra-Mile.