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The Preserve at Forest Creek

Memphis, TN



ARA Newmark is pleased to present The Preserve at Forest Creek, a 414-unit, Class A multifamily community located in the Germantown/Collierville submarket of Memphis, Tennessee. 

Excellent Value-Add Opportunity

  • There is a value-add opportunity to upgrade units to capitalize on the strength of the location and demand for upscale amenities.
     
  • Currently, the property achieves $35 rent increases for flooring upgrades. Additional upgrades can further bridge the $100-$120 gap with newer communities.


Property Benefits from Exceptional Location

  • Prime location on the corner of Nonconnah Parkway (TN-385) and Forest Hill Irene Road.
     
  • Located in the exclusive Germantown/Collierville submarket, with the highest suburban rents and occupancies.


Proximity to Major Employment and Stellar Demographics

  • Two miles from over two million SF of FedEx Corporate Headquarters, home to 6,300 employees.
     
  • Average household income within five miles of the property is $108,000, which is $40,000 higher than the Memphis MSA.


Great Amenity Package & Spacious Floor Plans

  • High-end unit finishes include tile and wood floors, crown molding, maple cabinets, 9-foot ceilings, Roman style tubs, and marble bath vanities.
     
  • Luxurious amenity package includes a spacious clubhouse with a bar, a heated swimming pool, an indoor sports court, and a state-of-the-art fitness center.



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