Halaby Capital Drops $9M on 1970s-Vintage Multifamily near Nashville Airport
Halaby Capital has purchased Thompson Place Apartments, an 84-unit community located in Nashville, TN for $9 million ($107,143 per unit).
Ben Crawford with the Nashville office of commercial real estate brokerage firm Marcus & Millichap represented the seller, a private individual, and procured Denver, CO-based Halaby Capital.
“This sale presents an opportunity for immediate rent growth for the buyer,” said Crawford. “The asset is well-positioned in the Southeast Nashville submarket, which has led the Nashville metro area with 20% year-over-year rent increases.”
Thompson Place Apartments is located at 1100 Thompson Place approximately four miles from Nashville International Airport and six miles from downtown Nashville. The 1973-constructed asset sits on 2.35 acres, with 84-unit mix of studios, one-bedrooms and two bedrooms.
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.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!