Dominium announced the closing of its acquisition of Chapel Ridge of Gallatin located at 1590 Airport Road in Gallatin, TN. The 208-unit property expands Dominium’s existing portfolio in the Nashville market.
Chapel Ridge of Gallatin was built in 2005 using four percent LIHTCs. Dominium plans to renew the property’s affordable housing status in 2022 while conducting approximately $8.3 million of improvements, including an updated clubhouse, new site amenities and renovations to individual apartment homes. Financing was provided by Bear Creek and Minnwest Bank. Development partners include Bear Creek, Minnwest Bank, Berkadia, Commercial Partners Title and Winthrop & Weinstine.
Dominium also announced the closing of its acquisition of Rosemont at Baytown, located at 6033 Garth Road in Baytown, TX. The 250-unit property expands Dominium’s existing portfolio in the Houston metropolitan area. Development partners include Bear Creek, Berkadia, Chicago Title Company and Winthrop & Weinstine.