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Wood Partners Sells Newly Built Community in Nashville’s The Nations for $97M
Glen Allen, VA-based Weinstein Properties has purchased Alta Union, a 283-unit, newly constructed multifamily in The Nations neighborhood of Nashville, TN, for $96.5 million.
Tarek El Gammal and Vincent Lefler of Newmark represented the seller, Atlanta, GA-based Wood Partners.
“The Nations remains one of the fastest growing neighborhoods in the Nashville market,” said El Gammal. “For several years, The Nations led in single-family housing growth and now we’re seeing higher density — both commercial and residential — benefit and elevate the entire community.”
According to Newmark, Nashville rents in the second quarter of 2022 were up 27% from the fourth quarter of 2019. The Nashville multifamily market experienced 6.6 million square feet of new supply and 8.3 million square feet of demand in the second quarter of 2022.
The Class A Alta Union’s amenities include clubhouse with terraces, pool and courtyard. For residents working from home, there are individual and group co-working spaces as well as private offices for rent.
- ◦Sale/Acquisition
