The Autumn Brook Apartments at 5555 Hixon Pike Rd. were sold by Chicago-based Jupiter Realty Corp. to Nashville, TN-based Carter Haston. Bo Brown of Atlanta, GA-based Brown Realty represented Jupiter Realty, which develops and invests in commercial real estate properties and businesses. Jupiter had owned the apartment complex since 1996.
Chicago-based Aries Capital provided the 10-year loan with 22.5-year amortization and a 65% loan-to-value for the limited-service Days Inn Rivergate at 901 Carter St., which includes Denny's restaurant and Riley's Irish Pub. Viru Patel of Sunshine Nationwide Financing was the broker.
"Our clients purchased this hotel in 1995 and since then have invested over $1.5 million for complete renovations," says Aries Capital President Neil D. Freeman. "As a result, the value of the property has increased by over 200%."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
