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

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%.