Bluestone Properties Snags 200-Unit Chattanooga Apartment Property

Private real-estate company Bluestone Properties has acquired 1400 Chestnut Apartments, a 200-unit apartment community in Downtown Chattanooga. The sales price was not disclosed.

The community consists of a mix of one and two-bedroom apartments, and features quartz countertops, tiles accents and backsplashes, wood flooring, white cabinetry and stainless steel appliances. Amenities include a resort-style pool and lounge area, resident center with a wine and coffee bar, grilling and fire pit areas, a modern fitness center and yoga room and a dog spa.

“Secondary Markets are becoming the new primary market for millennials to empty nesters,” said  Monica Escobedo, senior vice president at Bluestone Properties. “Locations like 1400 Chestnut provide a higher quality of life than your traditional primary markets in the Northern States. They offer the lower cost of living, an urban lifestyle, shorter commutes and warmer weather.”

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