Freeman Webb Sells Nashville Apartments for $24M
- Mar 18, 2019
Brandy Investments has acquired the Point Breeze Apartments, a 192-unit community in Nashville, Tenn., from Freeman Webb for $23.6 million, according to public records. NexBank provided $18.9 million in acquisition financing for the deal.
Located at 488 Lemont Drive in the city’s East Nashville/Inglewood submarket, the garden-style community is situated near U.S. Highway 31 East, less than 6 miles north of downtown. The asset is 1 mile from the Dickerson Pike retail corridor, home to a number of dining and shopping options, in addition to several hotels and a self storage property.
Point Breeze contains one- to three-bedroom units, with floorplans from 749 to 1,154 square feet. Community amenities include a dog park, saltwater swimming pool, fitness center and laundry facility. As of February, the property was 89.1 percent occupied, per Yardi Matrix data.
Earlier in March, a Freeman Webb-led joint venture refinanced a 472-unit community 15 miles south of Point Breeze.
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