Capstone Brokers $6.5M Sale of Apartment Community in Chattanooga

CHATTANOOGA, TENN. — Capstone Apartment Partners has brokered the $6.5 million sale of Forest on Frazier, a newly constructed, 30-unit apartment community located at 207 Delmont St. in Chattanooga’s NorthShore neighborhood. Enclave Holdings purchased the fully occupied asset from Boehm Real Estate & Investment Co. for $215,200 per unit, the highest price per unit sale in Chattanooga’s history. Built in 2014, the apartment community is located a couple blocks from the Tennessee River and offers views of Lookout Mountain and the downtown Chattanooga skyline. Adam Klenk and Eric Conklin of Capstone’s Nashville office, along with Andrew Klenk of Capstone’s Raleigh-Durham office, represented the seller in the transaction.