Essential Housing Asset Management LLC, a private lender of Scottsdale, Az., has lended on two large properties in Chattanooga for affordable homes.
The group paid $8,589,845 for property at 100-117 Peerless Ave.
Peerless Avenue runs between W. Manning Street and the railroad tracks in North Chattanooga, where housing costs have skyrocketed in recent years.
The group paid $6,124,468 for an 18.5-acre wooded tract in East Brainerd. It is at 7531 Pinewood Dr. It is less than a mile from Hamilton Place Mall. Pinewood Drive runs off Jenkins Road.