Nashville Shipping Container Project Changes Hands
FMBC Investments sold the 83-unit, under-construction development for more than $11 million.
Image via Pixabay.com
A private investor has paid $11.2 million for 83 Freight, an 83-unit multifamily development in Nashville, Tenn., according to documents recorded with Davidson County. The developer and seller, FMBC Investments, began work in March 2019, with completion set for later this summer.
The project utilizes 173 shipping containers, cutting down on construction costs and time. In mid-2018, FMBC had secured a $9 million construction loan from Wilson Bank & Trust for the development, according to Yardi Matrix.
Located on 2 acres at 431 Wingrove St. and 2150 Byrum Ave. in the Wedgewood Houston neighborhood, the project is within 3 miles of downtown Nashville. One block from the Nashville Repertory Theatre, the development is just north of the city’s fairgrounds and linked to the rest of the metro by the Nolensville Pike.
Units at the property range from 320-square-foot studios to 1,280-square-foot two-bedroom apartments. Select one-bedroom units also have private, rooftop deck areas. The community’s amenities include off-street parking, a dog park, a barbecue area and a recycling center.
