LEBANON, TENN. —Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $52 million sale of Stonehenge, a 228-unit multifamily property in Lebanon, roughly 20 miles east of downtown Nashville. Completed in 2023, the property is situated on 13 acres and offers units ranging in size from one- to three-bedrooms. Amenities include a saltwater swimming pool, clubhouse, fitness center and an entertainment lounge.
David Stollenwerk, Will Balthrope and Drew Garza of IPA represented the seller and secured the buyer in the transaction. The buyer and seller were not disclosed. Brian Eisendrath, Cameron Chalfant and Jake Vitta of IPA Capital Markets arranged acquisition financing for the buyer.
Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee for the deal.