GBT has spun off the 201-unit Parke West apartment tower for $72.5 million, nearly $350,000 a unit. Elmington Residential was the buyer.

GBT developed the 17-story tower near the intersection of Murphy Road and West End Avenue, which opened in 2022. The Nashville Business Journal reports that in 2019, the firm paid $7.175 million for the raw land, with a main address of 110 Murphy Ct. At the same time, GBT also paid $2.5 million for an adjacent retail building.

The tower offers studio, one-, and two-bedroom apartments.

In addition to the Parke West purchase, the local firms traded hands on another apartment building in Brentwood. Elmington paid $24 million for the newly opened Southcrest Reserve, which offers 108 units.

The Nashville office of Walker & Dunlop represented the seller in both transactions.

GBT is in the middle building its largest project so far, MidCity Nashville, a seven-tower mixed-use development on a former car lot.