NEWS

Downtown Nashville's 500 Fifth Apartments, formerly Metro Manor,
sold for $27.3M

New York-based JEM Holdings bought its third Nashville property from a fund managed by Covenant Capital Group, which renovated The 500 Fifth.

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JEM Holdings Acquires Country Club Apts.

An affiliate of New York City-based JEM Holdings acquired the 454-unit Country Club Apts. at 2332 Dunlavin Way in Charlotte for an undisclosed amount.

The 445,966-square-foot, two-story complex was built in 1969 on 28 acres near the Charlotte Country Club. Renovated in 1996, the community consists of 102 one-, 270 two- and 82 three-bedroom units. Occupancy was at 93% at the time of sale.

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HFF Closes $7.475 Million Sale of Three Apartment
Properties in New Rochelle, New York

Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $7.475 million sale of three apartment properties totaling 65 units in New Rochelle, New York.

HFF marketed the properties on behalf of the seller, JEM Holdings. Virginia City, LLC purchased the offering and assumed the existing mortgage.

The three apartment buildings are located at 347 Huguenot Street, 778 Main Street and 10-14 Glencar Avenue. All of the properties provide easy access to public transportation and major thoroughfares and are centrally located within the New Rochelle market. The portfolio has a mix of 39 one-bedroom units, 24 two-bedroom units and 2 three-bedroom units and all three properties are 100 percent leased. 778 Main Street also includes one fully-leased ground floor retail space.

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