Gem Realty Capital Acquires Avenida Watermarq Germantown Multifamily For $32.9M From PC/APDG Germantown LLC

The property asset involved in the transaction is Avenida Watermarq at Germantown, a senior-living apartment community located at 7900 Wolf River Boulevard, Germantown, TN. The multifamily asset consists of 161 units and was sold for $32,900,000, resulting in a price per unit of $204,348.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $32,900,000
• Units: 161
• Price Per Unit: $204,348
• Buyer: Gem Realty Capital
• Seller: PC/APDG Germantown LLC
• Transaction Date: 08/01/2025

Gem Realty Capital, based in Chicago, executed the acquisition through its affiliate GVII-IREP AWG Owner LP, indicating a strategic move in the senior-living sector within the Memphis market.