Abode Properties Acquires 252-Unit Centennial Village Apartments in Oak Ridge, Tennessee

OAK RIDGE, TN - Abode Properties announced its most recent transaction, adding another Class-A multifamily asset to its steadily growing portfolio. Abode Properties welcomes Centennial Village Apartments to its family of Class-A multifamily residential properties.

Centennial Village is a 252 unit gated community located in Oak Ridge, Tennessee on the shores of Melton Hill Lake. The property boasts many high end amenities including a saltwater swimming pool, high tech fitness facility, and a custom Cyber Café. Residents also enjoy chef inspired kitchens and a convenient 30 minute drive to Knoxville. It is anticipated that the property will help serve the needs of the surrounding community, especially the adjacent Oak Ridge National Laboratory, which employs over 4,400 scientists and engineers.

“Centennial Village is another step toward expanding Abode Properties’ geographic market. We’re happy to add this Tennessee property to our portfolio and to continue to expand and diversify geographically,” commented Daniel J. Moos, Chairman and CEO of Abode Properties.

Abode is immediately poised to address existing and future demand for quality multifamily residential properties. Abode’s investment and strategic focus is to acquire, develop, and maintain a portfolio of top tier Class-A quality multifamily residential properties in emerging markets that correspond with both sustainable and viable economic growth activity. Enhanced shareholder value will continue to be generated through investments in both acquisition and development of sustainable Class-A multifamily housing in focused secondary and tertiary markets. These markets, generally, represent high-growth suburban areas, where an increasing population and strong economic conditions signal long-term and resilient demand.

An exceptional and forward thinking leadership team further complements our continued efforts to deliver a quality living experience for our residents, while diversifying our holdings through the Southwest and Southeast United States. Accordingly, Abode’s seasoned executive leadership team and expertise will continue to strategically manage cash flow, revenue, capital, and reserves, while focusing on increasing the overall equity base, optimizing leverage, and ensuring market diversification.