An LLC affiliated with global real estate investment giant Clarion Partners has paid $77.1 million for an apartment complex in Antioch, according to a Davidson County Deeds document.
The seller of The Club at Hickory Hollow apartments was an LLC associated with insurance and investment management titan Prudential Financial. The address of the 406-unit garden-style residential complex is 1 Hickory Club ride.
The transaction follows Clarion’s payment of $47.5 million for The Sheds on Charlotte, an office and retail complex in Midtown (read here).
Opened in 1986, the Club at Hickory Hollow consists of several two-story buildings. Greystar, based in Charleston, South Carolina, manages the resort.
The deal is worth approximately $190,000 per unit. By comparison, new apartment building sales near downtown Nashville can cost upwards of $400,000 per unit.
Through an LLC, PGIM Real Estate, a prudential entity, paid $28.42 million for the property in 2014, according to Metro records.
Clarion has approximately $75.9 billion in assets under management, according to the company’s website. He is one of the specialist investment managers of the international investment firm Franklin Templeton, based in New York.