NASHVILLE, TENN. — Capstone has arranged the $35.5 million sale of The Falls at Mill Creek, a 204-unit community in Nashville, located about seven miles southeast of downtown. Capstone represented both the seller, Alexander Properties, and the buyer, WhiteRock Real Estate, who plans to upgrade the fitness center, clubhouse and exterior leisure areas. The property was built in 1973 and renovated in 2016. The Capstone transaction team was led by Adam Klenk, Austin Heithcock, Jordan Arand and Joshua White.
Falls at Mill Creek is made up of one-, two- and three-bedroom units with an average size of 1,007 square feet. Amenities include a pool, fitness center, business center, gated access, playground and a dog park. Falls at Mill Creek was 95 percent occupied at the time of sale and is located on 15 acres.