{"id":1004115630,"date":"2015-03-17T16:32:09","date_gmt":"2015-03-18T00:32:09","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=332892"},"modified":"2025-02-19T00:19:41","modified_gmt":"2025-02-19T08:19:41","slug":"apartment-community-in-memphis-changes-hands-for-51-3m-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/apartment-community-in-memphis-changes-hands-for-51-3m-2\/","title":{"rendered":"Apartment Community in Memphis Changes Hands for $51.3M"},"content":{"rendered":"

By Liviu Oltean, Associate Editor<\/em><\/p>\n

\"\"<\/a><\/p>\n

The Preserve at Forest Creek Apartments<\/p>\n<\/div>\n

The Preserve at Forest Creek Apartments, a 414-unit, Class A apartment community, recently changed hands for $51.3 million.<\/p>\n

According to a special warranty deed, two affiliates of Carter-Haston Real Estate Services Inc. sold the community in Germantown to BRE Piper MF Forest Creek TN LLC, an entity belonging to Chicago-based LivCor LLC.<\/p>\n

Located at 9230 Thornbury Blvd., the multifamily complex offers one-, two-, and three-bedroom apartments ranging in size from 786 square feet to 1346 square feet. Residents of The Preserve at Forest Creek can enjoy amenities such as a resident lodge; an indoor sports court; a car-care center; a heated resort-style pool; and a lighted tennis court. The apartments have nine-foot ceilings; oversized bedrooms; walk-in closets; designer kitchens and GE appliances. Certain units also offer wood burning fireplaces and patios and balconies with preserve views.<\/p>\n

As Commercial Property Executive<\/em><\/a> <\/em>has reported, the apartment community was purchased by Carter-Haston for $45.5 million in 2011. It was acquired from Altman Development Corp., which were represented by CBRE. At the time of the acquisition, the complex had a 98 percent occupancy rate, the deal representing one of the largest multifamily transactions in Memphis between 2008 and 2011.<\/p>\n

Image Courtesy of Carter-Haston via Official <\/em>Website<\/em><\/a> <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By Liviu Oltean, Associate Editor The Preserve at Forest Creek Apartments, a 414-unit, Class A apartment community, recently changed hands for $51.3 million. According to a special warranty deed, two affiliates of Carter-Haston Real Estate Services Inc. sold the community in Germantown to BRE Piper MF Forest Creek TN LLC, an entity belonging to Chicago-based […]<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004115630","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\nApartment Community in Memphis Changes Hands for $51.3M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/apartment-community-in-memphis-changes-hands-for-51-3m-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apartment Community in Memphis Changes Hands for $51.3M\" \/>\n<meta property=\"og:description\" content=\"By Liviu Oltean, Associate Editor The Preserve at Forest Creek Apartments, a 414-unit, Class A apartment community, recently changed hands for $51.3 million. 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