Atoka, TN- Sandhurst Apartment Management (“SAM”) has announced the purchase of The Woodlands at Capital Way, a 180-unit multifamily apartment complex built in 2010 located in Atoka, TN. The acquisition closed in October 2019.
The Woodlands at Capital Way consists of 8-three story buildings, a one-story clubhouse and forty detached garages. The property features controlled access gates, a community pool, a playground and a dog park. The property is situated on 13 acres in Tipton County, which boosts a 97% graduation rate which far exceeds the 79.2% graduation rate of the adjacent Shelby County School District. In addition to a great school system, The Woodlands is located a half-mile from Highway 51, which leads to downtown Memphis where almost 650,000 jobs are located. Additionally, the property is in close proximity of the area’s top retail, shopping and dining options.
SAM is pleased to purchase its sixth asset in Memphis MSA. With easy access to major highways, continued commercial and industrial growth and strong school systems, The Woodlands is situated in an excellent location. As Atoka has become a highly attractive submarket just 30-minutes northeast of Memphis, the acquisition proves to be consistent with our strategy of buying assets located in growing submarkets with strong demographics, projected rent growth and minimal new supply forecasted in the market.
ABOUT SANDHURST APARTMENT MANAGEMENT (“SAM”)
Sandhurst Apartment Management is a forward-thinking, time tested group that provides a wholly integrated package of property management services, including on-site asset management, construction supervision and due diligence. Our success is rooted in our thoroughly vetted, value-add property investments that provide high-quality rental apartments in good school zones with attentive,hands-on-property management. Sandhurst owns and manages assets in 9 states totaling almost 11,000 units in excess of $1 Billion.