Tennessee

Easton Place in Murfreesboro, Tennessee
Investment SalesNewsSoutheastTennessee

Argyle Real Estate Partners Acquires Easton Place in Nashville Suburb

by Channing Hamilton

MURFREESBORO, TENN. — Argyle Real Estate Partners has acquired Easton Place, a garden-style community in the Nashville, Tennessee suburb of Murfreesboro. Easton Place offers 184 units with stainless steel appliances, plank flooring and granite countertops. Amenities include a pool with cabanas and waterfall lighting, green spaces, a community fire pit and a clubhouse with a movie theater. Argyle Real Estate Partners plans to renovate the complex, although specific details regarding the planned improvements were not disclosed. Greystar will oversee the business plan for the asset, which will focus on driving …

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Albion Music Row in Nashville, Tennessee
DevelopmentInvestment SalesLeasing & MarketingMarket ReportsSoutheastTennessee

Renters Gain Upper Hand in Nashville

by Channing Hamilton

In downtown Nashville, supply is overtaking demand, leaving renters in a position of power. Developers brought 8,175 units to the market in 2022, up 40 percent from 2021’s deliveries, according to Northmarq. But only about half of the units delivered last year — 4,200 — were absorbed.  Owners, however, have a surprisingly glass-half-full perspective about excess supply and rising vacancies. Not only do they say this market condition is temporary. They also believe it provides an opportunity in disguise. It’s a chance to fine-tune the customer service side of the …

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Scenic Ridge Apartments in Chattanooga, Tennessee
FinanceNewsSoutheastTennessee

Colliers Arranges $26.6 Million to Refinance Scenic Ridge Apartments in Chattanooga, Tennessee

by Channing Hamilton

CHATTANOOGA, TENN. — Colliers Mortgage arranged a $26.6 million Fannie Mae loan for the refinance of Scenic Ridge Apartments, a 240-unit property in Chattanooga. Bill Mattice, Phillip Cox and Paul McDonald of Colliers Mortgage’s Greenville, South Carolina team represented the borrower. The loan carries a 10-year term. Scenic Ridge Apartments offers one-, two- and three-bedroom units. Amenities include a pool, picnic and BBQ area, fitness center, basketball court, car wash station and clubhouse.

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Stoneybrook Heights Apartments in Johnson City, Tennessee
Affordable HousingInvestment SalesNewsSoutheastTennessee

Blue Vista Capital Partners Acquires Stoneybrook Heights Apartments in Johnson City, Tennessee

by Channing Hamilton

JOHNSON CITY, TENN. — Blue Vista Capital Partners has acquired Stoneybrook Heights Apartments, an apartment complex in the eastern Tennessee city of Johnson City. Stoneybrook Heights was built in 1998 through the LIHTC program and will become a fully market-rate property in the second half of 2024. Currently, 45 percent of units are market rate. Rent restrictions for the property were not disclosed. The community comprises 88 units across 11 two-story buildings, as well as a single-story leasing office. Units come in two-, three- and four-bedroom layouts.

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NewsPeople NewsSoutheastTennessee

JLL Capital Markets Adds Lee Harris to Nashville, Tennessee Team

by Channing Hamilton

NASHVILLE, TENN. — JLL Capital Markets has selected Senior Director Lee Harris to join its multifamily team in Nashville. In this role, Harris will work alongside Senior Managing Director Brian Dawson on agency debt, as well as providing capital stack solutions to multifamily, mixed-use and MHC clients. Prior to joining JLL, Harris served as a Director at Greystone. He also held positions at RED Capital Group and Lument. Harris earned his degree from the University of Southern California.

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An aerial shot of Avenida Watermarq in Germantown, Tennessee.
FinanceNewsSoutheastTennessee

Joint Venture Secures $24.1 Million to Refinance Avenida Watermarq Near Memphis, Tennessee

by Channing Hamilton

GERMANTOWN, TENN. — A joint venture between Passco Companies and Avenida Partners has secured $24.1 million to refinance Avenida Watermarq, a lakefront 161-unit building in Germantown, which is an eastern suburb of Memphis, Tennessee. Knighthead Funding provided the loan. Avenida Watermarq offers one- and two-bedroom floor plans across four stories. The community includes amenities such as a fitness center, library, courtyard, swimming pool, grill area, game room, pet park, theater, art studio and detached garages.

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An aerial shot of Addison at Rossview, a multifamily community in Clarksville, Tennessee.
Investment SalesNewsSoutheastTennessee

Timberland Partners Acquires Addison at Rossview Near Nashville, Tennessee, for $40 Million

by Channing Hamilton

CLARKSVILLE, TENN. — Timberland Partners has acquired Addison at Rossview from an undisclosed local developer for $40 million. Northmarq’s David Stollenwerk and Bryan Schellinger represented the seller. Daniel Trebil and Jesse Lemos secured acquisition financing in the form of a 10-year fixed rate loan on behalf of the buyer. Addison at Rossview is a 205-unit property in Clarksville, which is 50 miles northwest of Nashville, Tennnessee. Built in 2016, the property offers one-, two- and three-bedroom floor plans. Amenities include a pool with a grilling area, dog park playground, coffee …

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Affordable HousingNewsSoutheastTennessee

LDG Breaks Ground $79.6 Million Affordable Project in Nashville

by Lynn Peisner

NASHVILLE, TENN. — LDG Development has broken ground on Ewing Heights in North Nashville. The affordable housing project will deliver 180 two- and three-bedroom apartments as well as 10 three- and four-bedroom townhomes for families earning between 40 and 80 percent of area median income (AMI). Amenities include a fitness and business center, a pool and a dog park. Completion is slated for mid-2024. The estimated development cost for Ewing Street is $79.6 million. Financing for the project was secured by 4 percent Low-Income Housing Tax Credits (LIHTC) and tax-exempt …

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Aureum facade rendering
DevelopmentNewsSoutheastTennessee

Chartwell and Southstar Break Ground on $500 Million Mixed-Use Project in Nashville Suburb

by Lynn Peisner

FRANKLIN, TENN. — Chartwell Hospitality and Southstar, a developer active in Middle Tennessee, have begun construction of a $500 million, 22-acre mixed-use project called Aureum in Franklin, which is about 30 miles southwest of Nashville. The first phase will consist of 355 units for sale and for rent, which Chartwell Residential, an affiliate of Chartwell Hospitality, will develop. At completion, the development will consist of office space, retail and entertainment venues, along with two hotels to be developed by Chartwell Hospitality. In addition, Aureum, which is Latin for gold, will …

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View of the pool area at The Falls at Mill Creek in Nashville
Investment SalesNewsSoutheastTennessee

WhiteRock Buys Nashville Value-Add Property for $35.5 Million

by Lynn Peisner

NASHVILLE, TENN. — Capstone has arranged the $35.5 million sale of The Falls at Mill Creek, a 204-unit community in Nashville, located about seven miles southeast of downtown. Capstone represented both the seller, Alexander Properties, and the buyer, WhiteRock Real Estate, who plans to upgrade the fitness center, clubhouse and exterior leisure areas. The property was built in 1973 and renovated in 2016. The Capstone transaction team was led by Adam Klenk, Austin Heithcock, Jordan Arand and Joshua White. Falls at Mill Creek is made up of one-, two- and …

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