Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Atlanta & Southeast News In Your Inbox

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Atlanta & Southeast  + Southeast  + Apartments  |  April 22, 2022
CBRE has completed the $14.9-million sale of The Eastland apartment community in Nashville, TN to Cherner Development Group
Lisa McDuffie
By: Lisa McDuffie

Nashville Multifam Sells for $15M Following $10M Purchase in 2019

CBRE has completed the $14.9-million sale of The Eastland, a 49-unit apartment community in Nashville, TN to Vienna, VA-based investor Cherner Development Group. The building was 96% occupied at sale.

Brett Carr of CBRE represented the seller, Dallas-based investor Lion Real Estate Group, in the transaction. Lion Real Estate Group purchased the asset for $9.9 million in 2019.

“This is one of the fastest growing submarkets in Nashville with high barriers to entry which we believe will offer long term success for the new buyer, just as it did for the seller,” said Carr. “This transaction boasted record price per door and price per square foot in the East Nashville submarket.”

The Eastland is on W. Eastland Avenue within minutes from Oracle’s new headquarters, downtown Nashville’s Central Business District, Titan Stadium and Shelby Park. The 2017-constructed, five-story multifamily building features one- and two-bedroom units with an average unit size of 571 square feet.

Connect

Inside The Story

CBRE's Carr

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
Order Reprints
  • ◦Sale/Acquisition
New call-to-action
New call-to-action