Embrey picked up six acres outside Nashville to build 604 apartment units. Embrey acquired the land in Franklin from SouthStar for $24.1 million. The project will be part of Phases II and III of the 22-acre $500 million Aureum mixed-use, master-planned community.

Multihousing News reports that phases II and III will be located near the intersection of Carothers Parkway and East McEwen Drive, adjacent to Interstate 65. The second phase is expected to total approximately 281,000 square feet.

In September, Embrey closed on a nearly $65 million construction loan for Thatcher at Aureum (shown), a five-story, 296-unit luxury apartment community being built as the first phase of the Aureum project. It will include amenities such as a private clubhouse with micro offices, conference spaces, a podcast studio, game room and grab-and-go market. The property will also feature a pool and spa, private cabanas, grilling areas, a rooftop terrace, gaming lawn, fitness center and yoga studio.