Apartment sales

In 2020, there were more than $400 million of sales of multi-family housing properties in Hamilton County, nearly double the $233 million of multifamily sales in all of 2019.

› The 283-unit Bluebird Row Apartments at the Chattanooga Choo Choo sold for $63.15 million in March 2020, to Hamilton Zanze, a privately held real estate investment company in California. The purchase price was equal to $223,145 for each of the apartments, which was a record high for any major apartment complex sold in Chattanooga.

› The 316-unit Parc 1346 apartments off of Gunbarrel Road in East Brainerd sold for $46.8 million in November 2020. Atlanta-based real estate investment firm The Shoptaw Group paid nearly 60% more than the former owners paid for the property just six years earlier, according to the Hamilton County Register of Deeds. The purchase was the second highest price ever paid for an apartment complex in Chattanooga. The group also bought The Shallowford apartments in 2019 for $32 million.

› The 308-unit Marina Pointe Apartments on Lake Shore Drive in Hixson sold for $44.5 million in October 2020, to Capital Square Acquisitions LLC of Glen Allen, Virginia. The purchase price was nearly double the $23.2 million paid for the same property in 2013 by the Miami-based BC Property Invest LLC.

› In 2019, equity investment firms from New York to California spent more than $230 million buying rental properties in Hamilton County, according to property records by the Hamilton County Register of Deeds. Three major apartment complexes — Hunters Point and the Shallowford Apartment Homes in East Brainerd and the Riverview Grande apartments in North Chattanooga — sold for more than $30 million to out-of-town investment companies.