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MEMPHIS AND COLLIERVILLE, TENN. — GMH Capital Partners has acquired two Tennessee multifamily communities totaling 320 units. In Memphis, the company acquired Poplar Place Townhomes, a 220-unit garden-style townhome community. The 24-building community features a playground area, a swimming pool and 445 parking spaces. It was 95 percent occupied at the time of closing.
In Collierville, GMH acquired the 100-unit Collier Village townhome community. The nine-building property features a playground area, and was 92 percent occupied at the time of closing. GMH plans to implement a $4 million capital improvements program on both of the properties. The two communities were acquired from Fair Oak for an undisclosed price.