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Praedium Group Acquires 296-Unit Multifamily near Gaylord Opryland Resort
The Praedium Group has purchased The Sound at Pennington Bend, a newly developed, 296-unit multifamily property in Nashville, TN. The National Green Building Standard-certified property was constructed with green standards related to energy efficiency, water efficiency, resource efficiency, lot development, operation and maintenance and indoor air quality
The Sound at Pennington Bend is five minutes from the Gaylord Opryland Resort and Convention Center, which provides 10,000 jobs and a $1 billion annual economic impact. The property is within 10 minutes of the Nashville International Airport; both Amazon and FedEx are building new fulfillment centers nearby.
“Nashville remains one of the nation’s leading markets for population and job growth. Its population grew 19.1% from 2010 to 2020, surpassing the U.S. population growth of 6.7% and Tennessee population growth of 8.5%,” noted Kelsey Durels, VP at Praedium. “Further, the property has connectivity to major employment nodes including downtown Nashville, which offers more than 150,000 jobs.
- ◦Sale/Acquisition
