Nashville Community Changes Hands for $27M

1 min read

NexPoint Residential Trust acquired the 210-unit suburban Class B garden-style property, financed by a 7-year, $17 million Freddie Mac loan.

Cedar Pointe

NexPoint Residential Trust has acquired Cedar Pointe, a 210-unit community in the suburbs of Nashville, Tenn., for $26.5 million, according to Yardi Matrix. The buyer financed the acquisition with a 7-year Freddie Mac loan originated by CBRE Capital Markets.

Located at 1157 Bell Road in Antioch, Tenn., the property’s 11 three-story buildings are situated near Interstate 24, approximately 10 miles southeast of downtown Nashville. The community is within a mile of a large number of retail assets, including the 1.1 million-square-foot Global Mall at the Crossings. A bus route operates nearby, providing direct access into the city.

The community, built in 1988, contains a mix of studio, one-, two- and three-bedroom units, with floorplans ranging between 750 and 1,500 square feet. Amenities include a swimming pool, a laundry facility, a clubhouse, a business center, a fitness center and a tennis court. BH Management is overseeing property management for the asset, per Yardi Matrix.

In July, Lion Real Estate Group paid $16.6 million for a community in Madison, Tenn., 20 miles north of Cedar Pointe.

Image courtesy of Yardi Matrix

You May Also Like

The latest multifamily news, delivered every morning.


Latest Stories

Like what you're reading? Subscribe for free.