Janet Lepage And Jeffrey Sherman Acquire Multifamily Communities In Tennessee For $20.7 Million

The transaction involves two Tennessee apartment communities located at 919 Dickerson Pike in Goodlettsville and 3825 Hixson Pike in Chattanooga. The total sale price was $20,700,000 for a combined total of 192 units, which translates to a price per unit of $107,813. The properties are operating under Section 42 Low-Income Housing Tax Credit agreements, which help maintain lower rent levels compared to market rates.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,700,000
• Market: Goodlettsville & Chattanooga, TN
• Units: 192
• Price Per Unit: $107,813
• Buyer: Janet Lepage - Western Wealth Capital; Jeffrey Sherman - FSO Capital Partners
• Broker: Taylor Froland - CBRE

Janet Lepage represents Western Wealth Capital, while Jeffrey Sherman represents FSO Capital Partners in this transaction. The sale was brokered by Taylor Froland of CBRE, with Northmarq responsible for arranging financing for the acquisition.