Wood Partners Sells Midtown Nashville Multifamily for $87M
Blacksburg, VA-based HHHunt has completed its $86.6-million acquisition of Alta Foundry, a Class AA, 231-unit, newly constructed multifamily in the Midtown neighborhood of Nashville, TN. The five-story property (to be renamed Abberly Foundry) was in lease-up at the time of sale and 75% occupied at closing.
Matthew Lawton, Brian Dawson and Nick Brown of JLL represented the buyer; JLL also secured a $54.5-million floating-rate, bridge loan financing on behalf of the owner.
JLL has been retained by HHHunt to represent it on an buy-side representation for a capital placement of a 1031 transaction, where it sold a significant asset in the Southeast to strategically redeploy into strong, long-term growth markets in the Sunbelt. There will be a total of five, Class A multi-housing assets acquired in Nashville, Atlanta and Charlotte.
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.
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