Download Offering Materials: The Village at Hermitage
Capstone Apartment Partners is pleased to present The Village at Hermitage, a 78-unit, build-for-rent style apartment community in Hermitage, Tennessee. The Village at Hermitage is conveniently located along Lebanon Pike, a highly trafficked thoroughfare with immediate access to multiple retail and employment hubs. The current owner has implemented a value-add program that is targeting unit interiors after recently completing exterior improvements. The in-place improvement program has demonstrated the demand for upgraded product, as fully renovated units are achieving in-place rent premiums of $350. With the ability to further push rents via amenity and office relocation improvements, the Village at Hermitage presents an exciting opportunity to purchase a quality asset. This allows new ownership to immediately focus on continuing the interior value-add initiative and pushing rents.
In Place Assumable Financing at 3.5%
Proven Value-Add Upside
Ability to Add 1-2 Buildings Via Rezoning, Per Planning