Rivergate KW Residential Expands Into TN

Rivergate KW Residential has expanded its property management portfolio into Tennessee, where it will oversee The Residence at Old Hickory Lake, a 116-unit luxury waterfront community near Nashville. It’s the fifth multifamily property RKW will manage for developer and owner Arnold Cos. of Columbia, S.C.

RKW, a third-party multifamily property management firm headquartered in Charlotte, N.C., with a regional office in Miami, has been growing its geographic footprint over the past 18 months and now has property management assignments in seven states—Georgia, Florida, Missouri, North Carolina, South Carolina, Tennessee and Missouri.

“Adding this stunning community to our portfolio and having the opportunity to service residents in Tennessee are highlights in what has been an extraordinary year of growth for our company,” Marcie Williams, RKW president, said in a prepared statement. “It is a privilege to expand our partnership with Arnold Companies. They are visionaries when it comes to developing unique communities that cater to a waterfront lifestyle.”

The Residence at Old Hickory has one-, two- and three- bedroom apartments at the community on Old Hickory Lake. The units feature kitchens with chef’s islands, energy-efficient stainless steel appliances and modern designer flooring. Community amenities include a salt water pool, fitness center, Internet café, grilling stations and a fire pit. The lakeside neighborhood is home to several marinas and Sam’s Sports Grill restaurant, a popular gathering spot that can be accessed from the water.

“The Residence at Old Hickory Lake is a signature asset in our portfolio,” Ben Arnold, CEO of Arnold Cos., said in a prepared statement. “We know this one-of-a-kind community is in capable hands with the team at RKW, which provides impeccable service to our residents.”

Other Arnold Cos. properties managed by RKW are: The Palms on Main and Vista Lofts, both in Columbia, S.C.; The Residence at Marina Bay in Irmo, S.C.; and The Residence at Tailrace Marina in Mount Holly, S.C.

RKW, which has 13,000 multifamily units under management, has been adding to its portfolio in areas besides Tennessee in recent months. In June, the firm began managing Eastover Ridge Apartments, a 424-unit community in Charlotte. The complex in the Eastover neighborhood has 11 two-, three- and five-story buildings that were constructed in two phase, the first in 1995 and second in 2001. The company took on management duties at another Charlotte apartment community in April 2017. Wesley Village, owned by Bluerock Real Estate LLC, features 142 one-, 144 two- and 15 three-bedroom apartments.