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Dominion Acquires 667-Unit Tennessee MF Portfolio for $51M
Dominion Development Group has acquired a five-property, value-add multifamily portfolio in Tennessee totaling 667 units for $50.5 million.
The properties in the portfolio include the 50-unit Whispering Oaks in Jackson, the 228-unit Hermitage in Jackson, the 101-unit Poplar Village in Nashville, the 148-unit Ridgeside in Chattanooga and the 140-unit Papermill Square in Knoxville.
Robbie O’Bryan and Brad Boston of Cushman & Wakefield represented the seller, Freeman Webb Co., in the transaction.
“These were strategic dispositions within our portfolio, allowing us to realize double-digit returns for our investors,” said Bill Freeman, chairman of Freeman Webb. “These assets are prime for an opportunistic owner looking to place fresh capital into the properties, and we think the buyer will have continued success.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
