NEW YORK BUYER PAYS $51.3M FOR NASHVILLE APARTMENTS

hayes house hillsboro apartments

By Eric Snyder – Managing Editor, Nashville Business Journal
Aug 27, 2019, 6:44am CDT Updated Aug 27, 2019, 6:21pm EDT

The Hayes House Hillsboro Village apartment complex has been sold.

Nashville Post reports that an entity affiliated with New York-based Sentinel Real Estate Corp. paid $51.3 million for the five-building complex. With 201 units, it represents a purchase price of about $255,200 per unit.

The seller was Nashville-based Nicol Investment Co., which paid $44 million for the property in 2013, according to the Post.

The 5.6-acre property is located at 2005 21st Ave. S. and 2115 Portland Ave.

A trio of brokers for the firm CBRE Inc. — Steve Massey, Russ Oldham, and Brett Kingman — represented the seller in the deal.