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Mt. Juliet apartment complex sells for $47.75M

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In one of Wilson County's largest recent property transactions, Aventura at Providence apartment complex was sold to an Atlanta buyer for multi-millions.

According to Wilson County land records, Aventura was sold by another Atlanta company, Tribridge Residential, to Centennial Holding Company for $47.75 million.

Nashville- based firm Jones Lang LaSalle broker Vince Lefler confirmed the sale and said it took place Dec. 31, 2014. He represented the seller. Lefler said the apartment community was built in 2007 and he transacted the original sale to Tribridge Residential.

He said this second sale of the property reflects "a significant increase in worth" since 2007.

"It's an extremely popular complex," said Lefler. "It was the first new Class A apartment in Mt. Juliet. In fact, all of Wilson County."

The complex is comprised of 334 apartments and is located next to regional shopping destination Providence Marketplace.

"Not too many place can you live and walk to hundreds of shops and restaurants," said Lefler.

Lefler said this purchase by Tribridge Residential is the "return" to Tennessee by the company.

"They didn't have any current properties in Tennessee until this sale," said Lefler.

"But, through the years they've held properties in this state. They are very happy with it. Ultimately, the purchase is well received by the investment community. Mt. Juliet is exploding."

Aventura's occupancy rate has sustained 90-plus percent through the years and the sale price represents about $143,000 per unit, according to Lefler.
Centennial Holding Company did not return calls before press time.

Writer Laurie Everett may be contacted at laurieeverett1@gmail.com.

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apartments, Mt. Juliet, Providence, Ventura
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