Belew Rentals purchased The Clairmont multifamily community at 1019 Patricia Dr. in Nashville, Tennessee from TriMont Real Estate Advisors, Inc. for $2.8 million, or about $12,000 per unit.
The 233-unit apartment complex was built in 1967 on 14.9 acres in the Airport South submarket, and was just 30 percent leased at the time of the sale. It is comprised of two-bedroom apartments that rent from $500 to $625 per month.
Dennis Harris and William Kirkland from Kirkland Company represented the seller. Belew Rentals used in-house representation.
Please see CoStar COMPS #2235773 for more information on this transaction.