Osso Capital Buys Nashville Community for $58M

Osso Capital has bought The Villages at Forest View, a 307-unit community in Antioch, Tenn., for $58 million or $188,925 per unit, according to Yardi Matrix information. Developer HND Realty sold the asset after owning it for two years. Walker & Dunlop originated a seven-year $39.9 million acquisition loan, the same source shows.

The Villages at Forest View came online in 2023 at 2760 Murfreesboro Pike. The 15-acre property comprises 14 two- and three-story buildings enclosing 27 studios, 96 one-bedroom and 184 two-bedroom apartments ranging from 547 to 1,180 square feet. Shared amenities include a fitness center, two swimming pools, a clubhouse and a business center.

The property is just off Tennessee State Route 1, which connects the community to downtown Nashville, some 11 miles northwest. Nashville International Airport is within 6 miles northwest. Other major thoroughfares in the area include Interstate 24, Tennessee state routes 171 and 254, as well as U.S. routes 41 and 41A.

Nashville multifamily faces headwinds

In the first eight months of the year, Nashville saw $534.8 million in multifamily investment sales, with 22 assets changing hands at an average per-unit price of $194,328, according to Yardi Matrix information. Between January and August in 2024, the metro registered a higher investment figure, namely $755.8 million, with 28 properties trading at an average price of $180,226 per unit.

Nashville’s supply growth last year affected the metro’s occupancy rate in stabilized properties in the first quarter of 2025, down to 93.6 percent in March, according to a recent Yardi Matrix metro report. The figure marked the lowest level in Yardi Matrix’s historical data. Average advertised rents were up 0.2 percent to $1,656 on a trailing three-month basis through April.