JLL’s Capital Markets experts today announced the company arranged the sale of Preserve at Hardin Valley, a Class-A apartment community in Knoxville, Tenn., on behalf of Crescent Bend Development and Cumberland Advisors. Grimley Residential purchased the 296-unit property.
National Director Vincent Lefler and Associate Ian Anderson led the JLL team on the transaction.
“Demand for multifamily housing in Knoxville remains strong amid rapid job creation and overall economic growth in the region,” said Lefler. “With exceptional amenities and a superior location, Preserve at Hardin Valley presented an outstanding opportunity for Grimley Residential.”
Preserve at Hardin Valley features a resort-style pool, sophisticated clubroom with billiards, cyber café, indoor/outdoor fireplaces and a 24-hour fitness center. Situated along Highway 162 and I-40, Preserve at Hardin Valley is only a 15 minute drive from Knoxville’s main economic drivers – University of Tennessee and Oak Ridge National Laboratory. The community is located in a high-performing school district and within five miles of Turkey Creek, East Tennessee’s largest mixed-use development.
JLL delivers multifamily investors a full range of solutions through one diverse, integrated platform. The division employs over 200 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation’s largest affordable and conventional multifamily and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. AFortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2017, JLL had revenue of $7.9 billion and fee revenue of $6.7 billion; managed 4.6 billion square feet, or 423 million square meters; and completed investment sales, acquisitions and finance transactions of approximately $170 billion. At the end of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of 82,000. As of December 31, 2017, LaSalle had $58.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
