Property Type: Garden Style Multifamily
Location: Collierville, TN (Memphis, MSA)
Purchase Date: June 2012
Bailey Creek is a 232-unit garden-style apartment community built in 1999. Purchased in June 2012, the property is in excellent condition and will continue to be maintained and upgraded by Somerset. Bailey Creek is located in the desirable Germantown/Collierville submarket, an area that is amongst the highest performing in terms of apartment fundamentals. Shelby County schools are also top ranked within the Memphis MSA. The 232 units are spread out across 19 two-story residential buildings. An additional building houses the club room, fitness center, laundry center, and leasing center. There is also a maintenance/car wash building on site. The property offers one, two, and three-bedroom floor plans averaging 985 square feet. Bailey Creek has excellent visibility in its location at the corner of Winchester Road and Bailey Station Road. Bailey Creek is located near the FedEx World Technology Campus, a one million square foot research and development center.