Successful disposition of the 300-unit Class A multifamily community demonstrates StoneRiver's vertically integrated approach to real estate investment and development.
StoneRiver Company, a vertically integrated multifamily real estate investment, development, and management firm, is pleased to announce the successful sale of Vital at Springbrook, a 300-unit Class A multifamily community in Alcoa, Tennessee, within the Knoxville metropolitan area.
Developed through a joint venture with Bluedog Capital Partners, the disposition marks the successful completion of a full-cycle development investment—from initial site identification and capitalization through construction, lease-up, stabilization, and ultimately, sale.
The transaction underscores StoneRiver’s ability to execute its investment strategy across the development lifecycle while creating value for its capital partners.
Delivering Value Through Vertical Integration
The successful disposition of Vital at Springbrook demonstrates the value of StoneRiver’s vertically integrated investment platform, bringing together expertise in investment management, development, construction management, asset management, and property operations.
“The successful execution of Vital at Springbrook reflects the strength of StoneRiver’s vertically integrated platform. We pride ourselves on identifying quality investment opportunities and bringing our development, construction management, and property management teams together to deliver high-quality communities. This collaborative approach is central to how we execute our business plans and create value for our investors.”
Joseph WeldenPresident and Chief Investment Officer of StoneRiver Company.
StoneRiver Property Management (SRPM), the firm’s in-house property management division, directed the community’s lease-up and ongoing operations. Its collaboration with StoneRiver’s development, investment, and asset management teams contributed to the property’s successful stabilization and positioning for sale.
StoneRiver partnered with ServisFirst Bank for construction financing and Capstone Building Corp. as general contractor. Cushman & Wakefield served as broker for the sale.
A Class A Multifamily Community in the Knoxville Metropolitan Area
Located at 1605 Centennial Park Boulevard in Alcoa, Tennessee, Vital at Springbrook is part of Springbrook Farm, a mixed-use redevelopment of the former ALCOA West Plant site.
The community features 300 apartment residences across two four-story buildings, offering studio, one-, and two-bedroom floor plans.
Residents enjoy an array of modern amenities, including an 8,700-square-foot clubhouse, resort-style swimming pool, state-of-the-art fitness center, golf simulator, resident lounge, and outdoor entertainment areas.
The property’s location offers convenient access to McGhee Tyson Airport, downtown Knoxville, major regional employers, and the Great Smoky Mountains, along with nearby retail, dining, and recreational destinations.
With its final delivery completed in 2024, Vital at Springbrook represents StoneRiver’s ability to develop and operate high-quality multifamily communities in strategically selected Southeastern markets.
Building on StoneRiver's Investment Track Record
The sale of Vital at Springbrook represents another milestone in StoneRiver’s continued growth and investment activity throughout the Southeast.
With more than 30 years of operating history, StoneRiver has acquired and developed more than 6,800 apartment units, representing approximately $1.1 billion in total multifamily investment value.
The firm continues to expand its investment and development platform, focusing on markets supported by favorable demographic trends, employment growth, and long-term housing demand.
StoneRiver currently has two development projects under construction—one in Birmingham, Alabama, and another in Charleston, South Carolina—with additional opportunities in its Southeast pipeline.
Through disciplined underwriting, operational expertise, and longstanding capital relationships, StoneRiver remains focused on identifying quality investment opportunities and executing multifamily investment strategies that align with the objectives of institutional investors, family offices, and other capital partners.
