156-UNIT APARTMENT COMPLEX CHANGES HANDS

NASHVILLE, TENN. — Freeman Webb Investments has acquired the 156-unit Arbors at Southern Hills Apartments from TRB Arbors for $3.95 million. The property is located at 371 Wallace Rd. in Nashville. Freeman had previously purchased the property in 1992 for $2.5 million and sold it in 2006 for $6.6 million. TRB Arbors had originally listed Southern Hills for $9.3 million. Steve Massey of CB Richard Ellis’ Nashville office and William Kirkland of The Kirkland Company in Brentwood, Tenn., brokered the transaction.