Woodyard Realty Brokers $13.5M Sale of New Loft Apartment Community in Downtown Memphis
MEMPHIS, TENN. — Woodyard Realty Corp. has brokered the $13.5 million sale of Phase II of 266 Lofts in downtown Memphis. Pittsburgh-based Alpha Capital Partners purchased the second phase, which was fully occupied at the time of sale. The seller, VS Developments, delivered the 74-unit second phase in late 2018 and the 77-unit first phase in 2017. Lea Heilig of Woodyard Realty represented the seller and procured the buyer. Phase II also added two street-level retail spaces leased to a restaurant/bar and a boutique salon. Situated in the South Main Arts district in Memphis, the three-story multifamily community features units ranging from 790 to 1,300 square feet and amenities such as a fitness center, pool and a poolside restaurant that delivers room-service meals to residents.