Abiete Real Estate Sells Retreat At West Hills Knoxville To Institutional Buyer For $39M

The property involved in the transaction is a MultiFamily asset located at 3399 Lake Brook Boulevard, Knoxville, TN. The sale price for the property was $39,000,000, which encompasses 256 units. The price per unit (PPU) is noted at $152,344.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $39,000,000
• Address: 3399 Lake Brook Boulevard
• Market: Knoxville, TN
• Units: 256
• Price Per Unit: $152,344
• Seller: Abiete Real Estate
• Lender: Fannie Mae
• Mortgage Brokers: Kevin Walsh, Griffin Delgado & Craig West - Walker & Dunlop
• Broker Representation: Brad Boston, Brett Kingman, Robbie O’Bryan & Russell (Russ) Oldham - Walker & Dunlop

Walker & Dunlop facilitated the transaction by arranging the $39 million sale of the property formerly known as the Retreat at West Hills, which has been rebranded as Vetra West Hills. The firm also secured a $29 million loan from Fannie Mae to support the acquisition, which included extensive amenities across all 256 units.