Luxury Apartment Complex In Hixson Sells For $57.2 Million; Capital Square Adds To Holdings
June 14, 2021
A 280-unit luxury apartment complex in Hixson has sold for $57.2 million. The Integra Vista Apartments is off Highway 153 near Boy Scout Road.
The property includes 1-, 2- and 3-bedroom units set on 20 acres. Units range from 766 square feet to 1,278 square feet.
The sale is from Integra Vista Partnership of Lake Mary, Fla., to Capital Square 1031 of Delaware.
Louis Rogers, Capital Square founder and chief executive officer, said, “Integra Vistas is a 2018 vintage, Class A multi-family asset with strong resident demographics. The affluent Hixson submarket of Chattanooga, where the property is located, has an average projected occupancy rate of 98.3 percent and projected rent growth of 4.9 percent for the next five years, according to Yardi Matrix.”
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