Nashville – Knoxville
Knoxville Multifamily Report – Winter 2019
Knoxville’s multifamily market is showing signs of growth as the cycle stretches further. Slow construction activity and healthy demand are putting upward pressure on occupancy and rents.
Top 10 Nashville Multifamily Acquisition Loans
Alongside a banner year for multifamily transactions across the metro, with close to 10,000 units changing hands, lenders have kept pace, originating more than $1 billion in acquisition financing.
Newly Completed Nashville Community Lands $40M Refi
The Giddings Group opened the 251-unit luxury asset in the city’s North Nashville/Bordeaux submarket in 2018. The new financing package pays down a prior construction loan from SunTrust Bank.
Lion Real Estate Expands Nashville Footprint
The acquisition, valued at more than $13 million, adds 160 units to the firm’s portfolio. The community last changed hands in 1990.
Top Multifamily Transactions in TN in 2018
Investment in Tennessee stayed strong in 2018, as Nashville’s appeal only grew following Amazon’s commitment to add jobs to the metro going forward.
MZ Capital Acquires TN Luxury Asset
The Northbrook, Ill.-based firm will upgrade and reposition the 130-unit apartment and townhome community in suburban Knoxville to meet the growing demand for luxury rentals.
Nashville Luxury Project Gets $93M Refi
Lifestyle Communities started work on the 411-unit asset in 2016, and the company plans to open the property early this year.
Cottonwood Residential Sells Nashville Apartments for $40M
The new owner rebranded the 327-unit Class B community as Allegro on Bell, with SunTrust Bank facilitating the acquisition through long-term financing.
HM Management Sells Knoxville Community
Prime Property Investors purchased the 130-unit Class B community with the help of a $5.3 million loan from Wintrust Bank.
Praedium Group Acquires Nashville Community
The investment firm purchased Novel Bellevue, part of the newly opened, 1 million-square-foot One Bellevue Place mixed-use development. The seller was Crescent Communities.