Champion acquires village green hills apartments for $22.5m

Champion Real Estate Company (Champion) announced the purchase of Village Green Hills Apartments in Nashville, Tennessee. This most recent acquisition consists of a predominantly, newly-constructed, 82-unit apartment property at a cost of $22.5m, in one of the most affluent and highly sought after residential markets in Davidson County. Village Green Hills sits just off Hillsboro Pike, within the Green Hills submarket. The location is a walker's paradise only a few steps from the Green Hills Mall and Hill Center with Nashville's only Whole Foods and Trader Joe's along with a myriad of lifestyle retailers. Champion was founded in 1987 and is based in West Los Angeles. Since 1995, Champion has completed projects valued in excess of $1 billion and 2.5 million square feet, and invests on its own account and in partnership with select individual and institutional investors. The Village Green Hills purchase is an integral part of Champion's strategic investment plan that is designed to produce enhanced returns across the risk spectrum from high yield core to land entitlement and Development. "The quality of construction, consisting of large floor plans and high-end finishes, combined with the core location and high barriers to entry, provide for the ability to achieve top market rents," stated Parker Champion, Senior Vice President. Champion will further unlock value by installing professional "Class A" local management. With dependable tenant demand and a proven operational approach, Champion anticipates that Village Green Hills will be regarded within the community as a trophy property. In Nashville alone, Champion and its affiliates currently own six multi-family properties consisting of nearly 200 rental units with product ranging from entry-level studios and student housing to high-end townhomes. Champion is actively seeking additional value-add properties throughout Nashville to continue to grow its portfolio. Source: PRNewswire