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Station 40 apartments in Nashville, TN

Newmark Brokers $72M Sale of Multifamily in Nashville’s Sylvan Heights

Newmark has brokered the $71.8-million sale of Station 40, a 246-unit multifamily community constructed the Nashville, TN urban neighborhood of Sylvan Heights. At the time of the sale, Station 40 was 96% occupied.

Newmark’s Vincent Lefler and Tarek El Gammal represented the seller, Sherman Residential, a division of Benj. E. Sherman & Sons, Inc., in the sale to Velocis Partners. This is the second time Lefler has represented Sherman Residential in the sale of a multifamily property.

“Station 40 is part of an infill village surrounded by some of the area’s most iconic mixed-use developments — including Sylvan Supply and L&L Market — fortifying the property’s position in the Westward growth corridor,” said Lefler. “The corridor is evolving into a mixed-use hotspot similar to Germantown and Hillsboro Village. More than $1.4 billion of construction has been completed along a six-mile stretch of Charlotte Avenue, showcasing how much demand is pouring into this corridor.”

Photo: Newmark


Inside The Story

Newmark’s Lefler

About Lisa McDuffie

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 he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition