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Newmark Brokers $100M Sale of Metro Nashville MF Property

Newmark has arranged the $100 million sale of Viera Cool Springs, a 468-unit multifamily community in the Nashville’s Franklin/Cool Springs suburb.

Located at 300 North Royal Oaks Blvd., the community was built in 1987 and is situated on more than 36 acres. The community features lighted tennis courts, three pools with expansive sundeck and poolside Wi-Fi, detached garages, two dog parks, a yoga studio and a fitness center. At the time of the sale, Viera Cool Springs’ occupancy was at 99%.

Tarek El Gammal and Vincent Lefler of Newmark represented the seller, Miami-based investment firm Lindemann Multifamily Management, in the transaction. The buyer was TruAmerica Multifamily, a Los Angeles-based investment firm focused on the western and eastern United States. In addition, Mitch Clarfield, Purvesh Gosalia, Ramsey Daya, and Ryan Greer of Newmark advised TruAmerica on the financing package provided by lender Blackstone. Terms of the financing were not disclosed.


Inside The Story

Newmark’s El Gammal

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.