Capstone Apartment Partners has closed the $7.2 million sale of Creekside at Deer Crossings: a 40-unit apartment community in White House.
The property presents a unique opportunity to develop a phase II due to the adjacent 3.6-acre lot, which is zoned, entitled, and permit ready for an additional 48 units.
Capstone sold Creekside at Deer Crossings on behalf of the California-based developer, Creekside Apartment Homes Inc., and procured the buyer, National Apartment Acquisitions, who is based out of Chicago.
National Apartment Acquisitions was attracted to the property due to its proximity to Nashville, construction quality, and premium finishes. Trading at $180,000 per unit, this transaction established the record for highest price per unit sold in the town of White House.