West End apartments sell for $51M

New high-end complex trades after four months on the market

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.