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226-Unit Nashville Apartment Project Sells for $78.5M
AND Asset Management acquired the Broadstone SoBro for what amounts to nearly $350,000 a unit. The property was +90% occupied at the time of sale. Alliance Residential Co. opened Broadstone SoBro in October of 2022.
Broadstone SoBro is an eight-story, podium-structure building. Community amenities include a champagne bar-inspired sky lounge, saltwater pool, fireplace with lounge seating, private offices and coworking space, and a 24/7 fitness center and package concierge system.
A CBRE team led by Brett Carr represented the seller. CBREs Carr added, “Broadstone SoBro demonstrated the pent-up demand for luxury product at a significant discount to existing and future supply in the area, resulting in a successful exit for the seller and a sound investment for the new owner.”
The property is situated on the corner of 4th Avenue and Ash Street just north of I-40.
