REBusinessOnline

Woodyard Realty Brokers $6.8M Sale of Multifamily Complex in Memphis

Lakeville Townhomes is situated about two miles from Memphis International Airport and was 96 percent occupied at the time of the transaction.

MEMPHIS, TENN. — Woodyard Realty Corp. has arranged the $6.8 million sale of Lakeville Townhomes, a 228-unit apartment community in Memphis. The asset was originally built in 1975, and in 2007, the undisclosed seller repositioned it as part of a condo-grade overhaul. The undisclosed New York-based buyer is planning further renovations. The property is situated about two miles from Memphis International Airport, and was 96 percent occupied at the time of the transaction. Lea Heilig of Woodyard Realty represented the buyer and seller in the transaction.

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