The new, 244-unit West End Village luxury apartment complex has sold for $51.25 million.
LaSalle Investment Management purchased the project from its developer, The Residential Group, which put the development on the market late last summer. Its purchase price reflects a price-per-unit of $210,000.
In addition to the complex — at 31st Avenue and Long Boulevard — Chicago-based LaSalle also owns 100 Oaks Mall.
The sale of West End Village provides yet another indicator of the health of Nashville's multifamily market. New construction continues at a strong pace, rents are rising and investors from outside the market are pouring in, prompting some market experts to say the good times will last a while longer.
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