MetroCenter apartment complex The Duke has sold for $74.26 million, Nashville Business Journal reports.
The new owner of the North Nashville office park property, located at 281 Cumberland Bend, is San Mateo, California-based G.W. Williams Co.
The seller was and LLC affiliated with Augusta, Georgia-based The Giddings Group (read about the development of the site here).
Opened in 2016, The Duke offers 251 apartments. As such, the deal is the equivalent of $295,947 per unit. Nashville Business Journal reports the previous record for the sale of a MetroCenter apartment property was $260,000 per unit.
Brett Kingman and Russ Oldham of CBRE brokered the deal, NBJ reports.
Of note, G.W. Williams paid $33.6 million in April for Atlas Germantown apartments.
The Giddings Group had planned an early 2020 start on a five-story apartment building that would sit next to The Duke at 115 Cumberland Bend. That project (read here) has yet to materialize.