Bluestone Properties has acquired the newly built 200-unit property 1400 Chestnut Apartments on the Southside.
1400 Chestnut is a four-story residential community that offers one- and two-bedroom apartments for rent.
Officials said the property includes "premium materials and finishes like quartz countertops, tiles accents and backsplashes, wood flooring, and white cabinetry to stainless steel appliances."
It also has a resort-style pool and lounge area, a large resident center with a complementary wine and coffee bar, grilling and fire pit areas, a state-of-the-art fitness center and yoga room, and a fully stocked dog spa for pet owners.
Monica Escobedo, senior vice president for Bluestone Properties, said, "This is no doubt an excellent find for us. Secondary markets are becoming the new primary market for millennials to empty nesters. Locations like 1400 Chestnut provide a higher quality of life than your traditional primary markets in the Northern States. They offer the lower cost of living, an urban lifestyle, shorter commutes and warmer weather.
"Our great location reduces commute time for employees from top employers like Erlanger and Memorial Hospital, Volkswagen, TVA, and other downtown businesses."
Since 2004, Bluestone Properties has owned and managed over 10,000 units throughout the U.S. Currently that includes Michigan, Indiana, Kentucky, Tennessee, New York, North Carolina, Georgia, Alabama, Louisiana, Texas and Utah.