HHHunt Acquires $87M Luxury Nashville Community
A Newmark team represented the seller in the transaction.
Alta Foundry. Image courtesy of Iran Watson Photography
HHHunt has acquired Alta Foundry, a newly constructed 231-unit luxury community in Nashville, Tenn. Newmark brokered the $86.6 million transaction on behalf of seller Wood Partners. At the time of the deal, the property was 75 percent occupied.
The five-story community encompasses a mix of studios, one- and two-bedroom floorplans. A rooftop lounge, pool, gaming lawn, as well as covered outdoor entertainment space are among the common-area amenities at the property.
Located at 640 21st Ave. N. in Nashville’s Medical District, the community is roughly 2 miles from the city’s downtown, with several retail, dining and entertainment options within walking distance of the property.
Newmark Executive Managing Directors Tarek El Gammal and Vincent Lefler brokered the transaction. Earlier this year, the same team was involved in the sale of Campus Crossings, a 252-unit community in Murfreesboro, Tenn.
The Nashville multifamily market has maintained a solid performance this year, with total sales volume surpassing $2.2 billion through July, according to a recent Yardi Matrix report. The metro’s construction pipeline also remained robust—20,070 units were underway as of this summer.
