JV Drops $94M for Multifamily in Nashville’s Metrocenter Submarket
Newmark has completed the $93.6-million sale and $69-million financing of Apex Glassworks, a 282-unit multifamily community located in Metrocenter, an infill submarket in Nashville, TN.
The property traded from seller Alpha Capital Partners to buyers Invictus Real Estate Partners, LLC, and Jonathan Leifer of L3C Capital Partners.
Tarek El Gammal and Vincent Lefler of Newmark represented the seller and Purvesh Gosalia secured financing through lender PCCP on behalf of the buyer.
The buyers have rebranded the asset Glassworks. At the time of sale, the Class A+ property was 94% occupied.
The 2020-constructed Glassworks features a spacious courtyard, saltwater pool and sun shelf, updated fitness center, bike storage and a repair shop and multiple off-leash pet parks. The mixed-use development Metrocenter is minutes from 150,000 downtown Nashville jobs, including those at Amazon and Oracle. Metrocenter boasts 1.3 million square feet of retail space and 3.4 million square feet of office space.
- ◦Sale/Acquisition
