Embrey Purchases Six Acres Development Site In Franklin From SouthStar For $24.1M

Embrey acquired a development site located on East Mc Ewen Drive in Franklin, TN. The property consists of six acres that will be utilized for the development of 604 apartments as part of Phases II and III of the $500 million, 22-acre Aureum mixed-use project, strategically situated near I-65. The acquisition was completed for a total price of $24.1 million.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $24,100,000
• Buyer: Embrey
• Seller: Glenn Wilson - SouthStar
• Market: Franklin, TN
• Asset Area: 6 acres
• Project Phase: II and III of the Aureum mixed-use project

Glenn Wilson, representing SouthStar, facilitated the sale of the land to Embrey. This transaction marks a significant step in the ongoing development of the Aureum project, enhancing the community's offerings with new residential opportunities.