Exclusive: Camden, Eaton Vance Close $44M Nashville Deal
The community changed hands after more than a decade.
Camden Property Trust has paid $43.5 million for Camden Franklin, a 196-unit community in Franklin, Tenn., according to Yardi Matrix information. The investment brought the company’s footprint in metro Nashville, Tenn., to 1,389 units.
Eaton Vance Real Estate sold the property after 11 years of ownership. The company obtained a nearly 17 percent premium over the asset’s 2015 sale price of $37.3 million.
Previously known as Grove at Shadow Green, Camden Franklin occupies 15 acres at 2000 Toll House Circle, close to the city’s downtown. Downtown Nashville and its international airport are within 26 miles northeast.
READ ALSO: After Supply Surge, Nashville Navigates Transition
Camden Franklin consists of 15 buildings, rising two and three stories, that came online in 2014. The unit mix includes one- to three-bedroom floorplans ranging from 642 to 1,353 square feet. Interiors include walk-in closets, full-size washers and dryers, kitchens with pantries and islands, bathrooms with walk-in showers and private balconies.
Common-area amenities at the pet-friendly community include a swimming pool with sundeck and lounge seating, a fitness center, a resident lounge, a clubhouse and 350 parking spots.
This is Camden Property Trust’s second property in the Franklin submarket. Just 7 miles away is Camden Franklin Park, a 328-unit community that the company bought in 2021 for $89.1 million.
Nashville investment stays resilient amid supply growth
Nashville’s multifamily transaction volume amounted to $453.4 million year-to-date as of May, according to Yardi Matrix data. A total of 2,489 units sold at an average sale price of $192,952.
When compared to the same time period of 2025, the metro recorded a 6 percent drop in dollar volume and a 2.3 percent decline in pricing. For context, during the first five months of the previous year, Nashville’s multifamily investment totaled $483.9 million, with units selling at $197,446 on average.
Additionally, development activity remains consistent in the metro. Recently, Greystar purchased a 5.4-acre site at the CoolSprings Galleria shopping mall, where it intends to develop a 361-unit community. Construction is expected to begin later this month and last approximately two years.
The shopping destination is currently undergoing a major redevelopment. Last year, the city approved the rezoning of 86 of its acres, with plans calling for the addition of new amenities, up to 600 new units and a 120-key hotel.
