Capital Square Acquires 250-Unit MF Property in Chattanooga

Capital Square 1031 has acquired Lullwater at Big Ridge, a 250-unit multifamily community in the Hixson submarket of Chattanooga, TN. The sales price was not disclosed.

Located at 6038 Hixson Pike, the gated community was constructed in 2020 and is the newest apartment community in the Hixson submarket. Lullwater at Big Ridge is comprised of one-, two- and three-bedroom units ranging in size from approximately 1,028 square feet to 1,432 square feet. Amenities include a dog park, resort-style pool with outdoor kitchen and firepit, clubhouse with lounge, media room, conference room, business center and fitness center.

“Chattanooga was recently ranked number one for employment outlook by Forbes magazine, in part due to its exceptional location just 130 miles from Atlanta and Nashville,” said Louis Rogers, founder and chief executive officer at Capital Square. “The city is well-known for healthcare, manufacturing, education, technology and tourism and was named ‘Gig City’ for its 10-gigabit-per-second fiber internet services. These attributes position Chattanooga as the next booming city, similar to Nashville or Austin.”