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  • Preferred Apartment Communities Sells 364-Unit Multifamily Property Stoneridge Farms at the Hunt Club in High-Growth Sumner County, Tennessee

Preferred Apartment Communities Sells 364-Unit Multifamily Property Stoneridge Farms at the Hunt Club in High-Growth Sumner County, Tennessee

Nashville, TN | October 26, 2018
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CBRE represented Preferred Apartment Communities in the sale of Stoneridge Farms at the Hunt Club, a 364-unit multifamily property at 2325 Nashville Pike in Gallatin, TN, just 30 minutes north of Downtown Nashville. CBRE’s Russ Oldham, Brett Kingman, and Steve Massey represented the seller, Preferred Apartment Communities, in the transaction of the 2002-built asset.

“Gallatin is one of middle Tennessee’s fastest growing cities, having experienced a 15 % population increase over the last five years. With quick access to Interstates 40 and 85 and many new retail, health care, and office developments in the area, this property is in an ideal location with high demand,” said Russ Oldham, executive vice president at CBRE. “With rents across Nashville rising to unprecedented levels, well-built assets in desirable locations are poised to benefit from renters seeking more affordable living options. Investors also have the opportunity to create value through amenity and interior investments.”

Stoneridge Farms at the Hunt Club features an amenity package that includes a resident lounge and club, cyber café and shared resident library, a health and fitness center, tanning bed and infrared sauna, controlled access gates, a relaxing pool with sun deck and spa, and a dog park, among others. Over the past 12 months, the property has maintained an average occupancy of 94%.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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