Fairfield Buys Nashville Apartments from GVA for $52M therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
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The new owner is Austin-based GVA Real Estate. The seller was St. Louis-based Timberlake Apartment Associates, which paid $504,000 for the 18.9-acre property in December 1984, according to Metro records. That entity then developed the site with the apartment complex.
The transaction is the equivalent of about $123,200 per unit.
GVA is not new to the market. Last December, the company paid a collective $55.25 million for three garden-style apartment complexes comprising Crossings at East Nashville, Crossings at Madison and Flats at Nolensville with a combined 475 units (read
here). And in late 2019, it paid about $6 million for garden-style apartments complex Autumn Chase Apartments in Goodlettsville. That deal came about two years after acquired Meadow Brook Apartments in Madison for $5.9 million.