GBT, a real estate development company, has recently sold the Parke West apartment tower for $72.5 million to Elmington Residential. The 201-unit tower was developed by GBT and opened in 2022 near the intersection of Murphy Road and West End Avenue.
According to reports from the Nashville Business Journal, GBT purchased the raw land for $7.175 million in 2019 with an address of 110 Murphy Ct., as well as an adjacent retail building for $2.5 million at that time.
The high-rise building offers studio, one-, and two-bedroom apartments.
In addition to this transaction, both companies also traded another apartment building located in Brentwood called Southcrest Reserve for $24 million. This newly opened property features 108 units.
Walker & Dunlop’s Nashville office represented GBT as the seller in both deals.
Currently, GBT is working on its largest project yet – MidCity Nashville – a seven-tower mixed-use development on a former car lot.
