Newmark has completed the $56-million sale of Campus Crossings, a 252-unit multifamily community in Murfreesboro, TN. The property was 98% occupied at sale.

Vincent Lefler and Tarek El Gammal represented the seller, ApexOne Investment Partners, in the sale to Albion Residential.

Campus Crossings was constructed in 2006 near industry-leading employers and Middle Tennessee State University. The area’s 30% sustained population increase over the last decade landed Murfreesboro as the top submarket in the Nashville MSA for occupancy and rent growth over the past two years, according to Newmark.

“Murfreesboro offers something for everyone with its big city amenities, small-town quality of life, and college town vibrancy,” said Lefler. “Campus Crossings presents a tremendous opportunity for the new owners to take advantage of market-rate multifamily housing at a time when high-density development is restricted.”