Denholtz Properties has acquired a 384-unit multifamily community, Overall Creek, in Murfreesboro, Tenn. The real estate development and investment firm bought the property from Chandler Real Estate, according to Yardi Matrix data.
Located at 5150 Jack Byrnes Drive, the Class A property is close to Franklin Road and Route 24, which offer several dining options and retail spaces, also providing access to the Southeast Nashville corridor and downtown Nashville. Murfreesboro is situated in Rutherford County, which includes large employers such as Amazon, State Farm and Nissan North America.
Completed in 2020, Overall Creek Apartments encompasses 16 buildings with one-, two- and three-bedrooms ranging between 732 and 1,350 square feet. Common-area amenities include a fitness center, clubhouse, swimming pool, dog park and garage parking. In-unit amenities comprise washers and dryers, outside storage, private balconies or patios and stainless-steel appliances.
Last year Denholtz acquired several properties in different states, also launching a joint venture, with a total value of more than $1 billion. The President of Denholtz Properties, Stephen Cassidy, said in prepared remarks that Murfreesboro has become a desirable market because of the strong population and economic growth. Nashville’s multifamily market kept its performance solid in 2022, with steady job gains and improving occupancy keeping the rental sector healthy.