Luxury Apartment Complex In Hixson Sells For $57.2 Million; Capital Square Adds To Holdings

  • Monday, 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."

Community amenities include a resort-style swimming pool with a sundeck; an outdoor pavilion with a kitchen, flat screen TV and fireplace; as well as a resident clubhouse with an entertainment, game and poker room. Additional amenities include a state-of-the-art fitness center featuring free weight and circuit stations, CrossFit training, cardio, yoga and fitness on demand; a pet park with agility equipment; resident package receiving lockers; attached and detached garages and walking trails with scenic mountain views.

Capital Square has acquired 130 real estate assets for over 3,000 investors.

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