LEBANON, TENN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Stonehenge, a 228-unit community in Lebanon, about 20 miles east of Nashville. The asset traded hands for $52 million. The buyer and seller were not disclosed.
Built on a 13-acre site in 2023, Stonehenge offers units ranging from one- to three-bedrooms. Amenities include a saltwater pool, clubhouse, fitness center and entertainment lounge.
David Stollenwerk, Will Balthrope and Drew Garza of IPA represented the seller and procured the buyer in the transaction. Additionally, Brian Eisendrath, Cameron Chalfant and Jake Vitta of IPA Capital Markets arranged acquisition financing for the buyer. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee.