Berkadia Brokers Sale of Six Tennessee Apartment Communities Totaling $96.4M

CHATTANOOGA, TENN. — Berkadia has brokered the sale of six apartment communities in Tennessee totaling 1,110 units for a combined $96.4 million. Marcus Lyons of Berkadia’s Chattanooga office led the investment sales team in representing the sellers with help from other Berkadia offices. The transactions include Quarry Trail in Knoxville, which sold for $42 million to an investment group based in Atlanta; a trio of Middle Tennessee State University apartment communities that sold for $32.1 million to another Atlanta-based investment group; King’s Crossing and Tara’s Place in Murfreesboro, a combined 184 units, which sold for $11.3 million; and Waterview, a 160-unit property in Henderson that sold for $10.9 million. The Berkadia team for the transactions includes Kevin Larimer, David Oakley, Aaron Hargrove, Eric Taylor and Royce Emerson.