Argyle Real Estate Enters Nashville Market

The garden-style community is in a submarket seeing positive net migration, according to Argyle CEO & Managing Partner Ryan Reyes. Image courtesy of Argyle Real Estate Partners

Argyle Real Estate Partners has purchased Easton Place, a 184-unit multifamily property in Murfreesboro, a submarket of metro Nashville, Tenn. The seller, Gwaltney Communities, completed the project in 2019. Greystar will oversee operations. This is the buyer’s first acquisition in the metro area. 

Prior to the sale, Easton Place was subject to a $25 million permanent loan from Western & Southern Financial Group, originated in March 2020, according to Yardi Matrix data.

The garden-style community, located at 1709 Cason Lane, encompasses four three-story buildings with one-, two- and three-bedroom units, the square footage ranging from 850 to 1,463. The 38.5-acre property is less than 4 miles away from the Ascension Saint Thomas Rutherford Hospital and 32 miles southeast of Nashville’s central business district. The Vanderbilt University & Medical Center is developing a new facility 5 miles away from Easton Place.

Common-area amenities include a fitness center, a swimming pool with cabanas, a firepit and a clubhouse with movie theater. The property also offers electric charging stations and more than 300 parking spaces, while each unit is equipped with stainless steel appliances and washers and dryers.

Last year, Argyle Real Estate Partners teamed up with Sembler Investments in a joint venture to purchase more than $1.5 billion in apartments in the Southeast and Texas over two to three years. The partnership is planned to focus on value-add opportunities in major Sun Belt markets.