General Services Corp Purchases MultiFamily Asset From Starlight Investments For $106 Million

The asset involved in this transaction is a multi-family property located at 2007 Knoll Top Lane in Franklin, TN. It consists of 328 units and was sold for $106,000,000, resulting in a price per unit of $323,171.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $106,000,000
• Buyer: General Services Corp.
• Seller: Starlight Investments
• Units: 328
• Price Per Unit: $323,171
• Loan Amount: $63,000,000
• Property Developed By: Middleburg Communities
• Previous Sale Price: $82,900,000
• Previous Buyer: Starlight Investments
• Previous Sale Year: 2022

The buyer, General Services Corp., secured a loan of $63 million from Newmark to facilitate the acquisition of the complex known as The Paxton Cool Springs. The sale marks a significant transaction in the multi-family market, reflecting the involvement of various parties in the ownership transition from Starlight Investments to General Services Corp.