MAA acquired the Acklen West End apartments at 111 Acklen Park Dr. in Nashville, TN for $71.75 million, or about $224,000 per unit, from Forestar (USA) Real Estate.
The year-end deal, which closed on Dec. 28, rings in as the 10th-largest apartment sale for the region by unit price, according to CoStar data.
The 476,997-square-foot multifamily community is comprised of 320 units and is located near Interstate 440 in Davidson County. At the time of sale the asset was 86 percent occupied.
Vince Lefler of JLL represented the seller and was the sole broker on the sale.
Please see CoStar COMPS #4096024 for more information on this transaction.