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West Shore Secures $533 Million Refinancing for 2,806-Unit Sun Belt Portfolio

by Channing Hamilton

NEW YORK CITY — Newmark has arranged a $533 million loan for the refinancing of a portfolio spread across six states in the Sun Belt. Boston-based investment firm West Shore was the borrower. Citigroup provided the fixed-rate CMBS financing, which features a single-asset, single-borrower loan structure. Purvesh Gosalia, vice chairman of Newmark, secured the financing on behalf of West Shore.  The portfolio totals 2,806 units across nine garden-style properties. The assets include: Newmark is headquartered in New York City. The company also recently announced an assignment to market 10 multifamily …

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Oak Grove Flats in Memphis, Tennessee
FinanceNewsSoutheastTennessee

Colliers Mortgage Provides $9.5 Million Acquisition Loan for 165-Unit Oak Grove Flats in Memphis, Tennessee

by Channing Hamilton

MEMPHIS, TENN. — Colliers Mortgage has provided a $9.5 million Fannie Mae loan for the acquisition of Oak Grove Flats, a 163-unit garden-style asset located at 595 Cadraca Drive in Memphis. Randy Engel of Colliers Mortgage’s Memphis office originated the agency loan on behalf of the borrower, an undisclosed sponsor that is a repeat client of Colliers Mortgage. The community offers one-, two- and three-bedroom floor plans, as well as on-site laundry facilities and a grilling area, according to Apartments.com.

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FinanceNewsSoutheastTennessee

Eastern Union Secures $13 Million Refinancing for Garden View Apartments in Memphis, Tennessee

by Channing Hamilton

MEMPHIS, TENN. — Eastern Union has secured a $13 million loan for the refinancing of Garden View Apartments, a 156-unit community located at 1033 and 1087 Whitaker Drive in Memphis. Built in 1963, the property comprises 15 buildings spanning 131,000 rentable square feet. The unit mix includes 60 one-bedroom and 96 two-bedroom residences. Motti Blau and Mendy Pfeifer of Eastern Union arranged the financing on behalf of the borrower. Bellco Federal Credit Union provided the 30-year loan, which carries a 7.3 percent interest rate. Dov Bakon of Eastern Union served …

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Bradford Woods in Nashville, Tennessee
Investment SalesNewsSoutheastTennessee

Lion Real Estate Group Acquires 312-Unit Bradford Woods in Nashville, Tennessee

by Channing Hamilton

NASHVILLE, TENN. — Dallas-based Lion Real Estate Group LLC has purchased Bradford Woods, a 312-unit community in Nashville, for an undisclosed price. The acquisition was financed through Fannie Mae loan. Walker & Dunlop’s Nashville office brokered the deal. Located at 5242 Edmondson Pike, Bradford Woods offers one- to four-bedroom apartments. The new ownership plans to implement a value-add program at the property, which will be rebranded as “The Grove Brentwood.” Lion Real Estate Group plans to completely renovate the leasing office/clubhouse, gym, pool and other amenity spaces. Unit interiors will …

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The Dylan Apartments in Murfreesboro, Tennessee
Investment SalesNewsSoutheastTennessee

Cohen Investment Group Acquires The Dylan Apartments in Murfreesboro, Tennessee

by Channing Hamilton

MURFREESBORO, TENN. — Cohen Investment Group has acquired The Dylan Apartments, a 152-unit property located in the Nashville suburb of Murfreesboro, from Archway Equities for an undisclosed price. The Dylan Apartments comprises 113,396 square feet of rentable space. The community features amenities such as a clubhouse, barbeque grills, dog park, fitness center, pool and more. Tyler Mayo of Cushman & Wakefield brokered the transaction. 

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FinanceNewsSoutheastTennessee

Woodfield Development Secures $53.7 Million in Financing for Margaux Midtown in Nashville, Tennessee

by Channing Hamilton

NASHVILLE, TENN. — Woodfield Development has secured a $53.7 million senior loan for the refinancing of Margaux Midtown, a 292-unit community in Nashville. Built in 2023, Margaux Midtown offers amenities such as a fitness center, clubroom with mini duck bowling, yoga room, work pods, complimentary coffee, sky lounge and rooftop terrace, speakeasy, pool, podcast room and more. BWE provided the financing through its proprietary bridge program. Adam Bieber and Alec Jenkins from BWE’s Washington, D.C. office structured the loan.

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Investment SalesNewsSoutheastTennessee

Matthews Brokers $31 Million Sale of Victory Place Townhomes in Clarksville, Tennessee

by Channing Hamilton

CLARKSVILLE, TENN. — Matthews Real Estate Investment Services has negotiated the sale of Victory Place Townhomes, a 194-unit property located at 401 Victory Road in Clarksville, about 54 miles northwest of Nashville. BridgeGaps purchased the asset in a 1031 exchange with the seller, Singletary Construction. The community traded hands for $31 million. Austin Tomaiko and Austin Graham of Matthews represented the seller in the deal. Victory Place Townhomes was developed by Singletary Construction in 2021. The property features amenities such as a pool, fitness center, leasing office and dog parks. …

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Ellison Cool Springs in Franklin, Tennessee
DevelopmentNewsSoutheastTennessee

Flournoy Development Group to Develop 34-Acre Mixed-Use Project in Franklin, Tennessee

by Channing Hamilton

FRANKLIN, TENN. — Flournoy Development Group will develop Ellison Cool Springs, a 34-acre mixed-use community in Franklin, approximately 20 miles south of Nashville. McShane Construction is the general contractor on the development. Dynamik Design is the architect. The project team expects to deliver Ellison Cool Springs in August 2026. Ellison Cool Springs will offer 332 apartments and 15 commercial units across three four-story buildings. Apartments will come in one-, two- and three-bedroom layouts, with select two-story, live-work units. Planned amenities include a pool, clubroom, fitness center, recording studio, hospitality bar, …

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FinanceNewsSoutheastTennessee

Naftali Credit, J.P. Morgan Provide $120 Million for Mixed-Use Development in Nashville

by Channing Hamilton

NASHVILLE, TENN. — Naftali Credit Partners and J.P. Morgan have provided $120 million in financing for 1111 Church Street, a recently developed mixed-use project in the North Gulch neighborhood Nashville. The borrower was Tidal Real Estate Partners. The five-year financing comprises a senior loan from J.P. Morgan and a mezzanine loan from Naftali Credit. The funds will be used to refinance an existing construction loan and provide bridge financing to a sale or permanent financing. Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Michael Diaz and Michael Ianno of Walker …

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Broadstone Berry Hill in Nashville, Tenn.
DevelopmentNewsSoutheastTennessee

Alliance Residential Opens Broadstone Berry Hill Apartments in Nashville, Tennessee

by Channing Hamilton

NASHVILLE, TENN. — Alliance Residential Co. has opened Broadstone Berry Hill, a 303-unit community located at 2500 Bransford Ave. in Nashville. Units come in studio, one- and two-bedroom floor plans. Amenities include a clubroom, sky lounge, fitness center, private focus rooms, a fenced pet bark, bike room with a repair station and two courtyards. One of the courtyards features a grilling area, miniature golf and a pool. The other includes an outdoor TV lounge, fire pit and turf area for lawn games. The property also includes a coffee shop and …

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