Goldman Sachs Buys Nashville Community for $73M

The 321-unit luxury multifamily asset was sold by Lennar. The Canadian Imperial Bank of Commerce provided nearly $50 million in acquisition financing.
Octave
Octave

Goldman Sachs & Co. has acquired Octave, a 321-unit luxury community in Nashville, Tenn., for $72.5 million, according to Yardi Matrix. The Canadian Imperial Bank of Commerce provided the buyer with $48.2 million in financing. Seller Lennar Multifamily Communities completed work on the property in late 2017.

Located at 2350 Eighth Ave. in Nashville’s Midtown/Music Row submarket, the community is close to Interstate 65, approximately 2 miles south of downtown. The Franklin Pike retail corridor runs along the western side of the asset, home to a number of shopping and dining options as well as public transportation links.

Octave contains a mix of studios, one- and two-bedroom units, with floorplans ranging from 541 to 1,149 square feet. Amenities include a fitness center, saltwater swimming pool, business center, dog park and covered parking deck.

In December, Crescent Communities sold a 275-unit luxury property situated a short distance north of Octave, for nearly $80 million.

Image courtesy of Yardi Matrix