April 1, 2022
SVN | AVAT recently announced the sale of The Cleveland Cliffside Portfolio, a 31-unit apartment property located in Cleveland, Tennessee.
According to Andrew Agee, managing director of SVN Multifamily, the asset sold for $2.1 million. The new owner, BAE Property Holdings, LLC, a Nevada Limited Liability Company, has recently acquired a number of Multifamily properties throughout Northern Alabama and Southern Tennessee. This 31 unit Multifamily portfolio has five locations: 2904 Henderson Ave; 3716 Cliffside Dr.; 3728 Cliffside Dr.; 3712 Cliffside Dr and Ashland Terrace, Cleveland, Tennessee 37312. The portfolio consists of a wide variety of unit types.
The portfolio consistently remains fully occupied and the new owner does plan to continue renovations on the units built between 1974 and 1996, as they become available. A number of the units have Class A interior finishes such as granite countertops, backsplash, and other high-quality fixtures.
SVN | AVAT, Sunbelt Multifamily LLC. is a full service commercial real estate brokerage firm specializing in multifamily real estate and dedicated to helping investors and landlords grow their portfolios. Headquartered in Huntsville, Alabama, SVN Multifamily manages the sale of properties across the Southeast United States, including Alabama, Tennessee, Mississippi, North Carolina and Georgia. We are a national leader in the multifamily industry with a history of success, managing more than $500 million in transaction volume and more than 12,000 units sold.