NASHVILLE, TN - CBRE has facilitated the sale of Creekside at Providence, a 209-unit apartment community in Mt. Juliet, TN. Built in 2015, Creekside at Providence is a two and three-story community with ground floor direct access units offering large floorplans and many amenities including a walking trail, pool, and fitness facility. Olen Properties Corporation, based in Newport Beach, CA purchased the property for a sales price of $64,000,000 or $306,220 per unit.
The Nashville-based CBRE team led by Russ Oldham and Brett Kingman represented the seller in the transaction. The buyer was unrepresented.
“We are seeing buyers, largely from the coasts, show up and aggressively pursue assets like Creekside that offer a resilient income stream in quality locations. Good schools, limited new supply, and a differentiated product offering like Creekside makes for a unique opportunity,” said Mr. Oldham, executive vice president at CBRE.
Creekside at Providence is located adjacent to Providence Marketplace, a 103-acre lifestyle center comprised of over 835,000 sq. ft. of retail. Mt. Juliet is one of Tennessee’s fastest growing cities, with 34.9% population growth over the last five years. Additionally, there have been several notable economic development announcements in the area bringing thousands of jobs to Wilson County and the surrounding areas.