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Admiral Capital, Security Properties Acquire 360-Unit Nashville MF Property
Admiral Capital Real Estate Fund II and Security Properties have acquired Cambridge at Hickory Hollow, a 360-unit multifamily property in Nashville as part of a joint venture. The sales price and seller were not disclosed. Located 15 miles southeast of downtown Nashville, the garden-style community was built in 1997.
Security Properties now owns more than 1,500 units in the Nashville market. The property will be managed by Security Properties affiliate, Security Properties Residential. The acquisition represents Admiral’s second investment in Nashville, and brings its units currently under management to 5,500 nationwide.
“The venture acquired this property because it was an attractive opportunity to apply our proven value-add expertise in a 1990’s vintage asset located in a high-growth market,” said Tad Johnson, director of acquisitions at Security Properties.
“We are excited about the growing employment drivers and investment that is occurring in Antioch, and firmly believe in the long-term viability of the submarket, and greater Nashville.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
