Nashville-based real estate developer and property manager Mark Sanders has paid $7.2 million for an Antioch-area apartment complex, according to a Davidson County Register of Deeds document.
Located at 2337 Una Antioch Pike, Pebble Creek Apartments offers multiple two-story buildings with a collective 88 units. The seller was a partnership that bought the then-unimproved property for $230,889 in 1985, according to Metro records. Pebble Creek Apartments opened in 1996.
The transaction is the equivalent of $81,818 per unit.
Sanders used Brentwood-based The Kirkland Company (William Kirkland) to broker the deal. He told the Post his company will spend upwards of $1.2 million ($13,000 per unit) to upgrade Pebble Creek. Cumberland Capital Partners and Triumph Bank provided financing.
Based in East Nashville and the owner of S&S Property Management, Sanders is known for his work at Martin Corner near Five Points. He also owns a Five Points-area building once home to a YMCA of Middle Tennessee. Located at 122 S. 11th St., that historic East Nashville structure had its roof severely damage during the March 2020 storm, with Sanders undertaking a rehab (read more here).