An Antioch garden-style apartment complex has sold for $31.05 million, with the new owner a Texas-based entity that continue to purchase similar product within the local market.
Located at 325 Blue Lake Circle, Timberlake Village Apartments offers 252 residences.
The new owner is Austin-based GVA Real Estate. The seller was St. Louis-based Timberlake Apartment Associates, which paid $504,000 for the 18.9-acre property in December 1984, according to Metro records. That entity then developed the site with the apartment complex.
The transaction is the equivalent of about $123,200 per unit.
GVA is not new to the market. Last December, the company paid a collective $55.25 million for three garden-style apartment complexes — comprising Crossings at East Nashville, Crossings at Madison and Flats at Nolensville with a combined 475 units (read here). And in late 2019, it paid about $6 million for garden-style apartments complex Autumn Chase Apartments in Goodlettsville. That deal came about two years after acquired Meadow Brook Apartments in Madison for $5.9 million.
The Post was unable to determine if brokers were involved in the most recent transaction.
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