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Mastermind Multifamily Investments Acquires Airport Place Apartments In Clarksville For $20.1M

Property Image
SOLD
$20,100,000
Charlie Smith
Charlie Smith
Gloria Gregory

Tennessee

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MultiFamily
Sold 01/22/2025
the dealplayerscompscontact
Property Image
SOLD

Mastermind Multifamily Investments Acquires Airport Place Apartments In Clarksville For $20.1M

155 Airport Road

See Similar Deals
MultiFamily
Sold 01/22/2025
Charlie Smith
Charlie Smith
Gloria Gregory
the dealplayerscompscontact
Contact now

Summary

TENNESSEE
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involves the sale of Airport Place Apartments, a multifamily community located at 155 Airport Road in Clarksville, TN. The property consists of 121 units, with a price per unit of $166,116. The sale of the asset amounted to $20,100,000.

Summary of transaction details:

Charlie Smith played a crucial role in securing the buyer for this transaction, while Gloria Gregory represented the seller. This multifamily asset was facilitated through Marcus & Millichap, emphasizing the brokerage's involvement in completing the transaction.

Players

Charlie Smith
Advisors Living
Charlie Smith
2 deals$20.9M volume
BROKER
Charlie Smith
Marcus & Millichap
Charlie Smith
1 deal$20.1M volume(225) 376-6725
BROKER
Gloria Gregory
Marcus & Millichap
Gloria Gregory
1 deal$20.1M volume(865) 299-6276
BROKER
Advisors Living
Advisors Living
BROKERAGE

Details

SOLD
IMAGE: 01/22/2025 ADDRESS: 155 Airport Road MARKET: Clarksville, TN ASSET TYPE: MultiFamily BUYER: Mastermind Multifamily Investments BROKERS: Charlie Smith & Gloria Gregory - Marcus & Millichap SALE PRICE: $20,100,000 UNITS: 121 ~ PPU: $166,116 NOTE: Marcus & Millichap facilitated the $20.1 million sale of Airport Place Apartments, a 121-unit multifamily community near Clarksville Regional Airport and Fort Campbell. Charlie Smith secured the buyer, Mastermind Multifamily Investments, while Gloria Gregory represented the seller, Todd Morris of Morris Properties.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,072,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,411.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$95,284.25
Annual Debt Service$1,143,411.05