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222 Stockyard Boulevard

Weinstein Properties Acquires Bexley Stockyards Apartments In Germantown For $114.57M
SOLDMultiFamily

Weinstein Properties Acquires Bexley Stockyards Apartments In Germantown For $114.57M

222 Stockyard Boulevard

$114,570,000

Building Size

Asset Type

MultiFamily

Closing

Dec 6, 2023

AI

Weinstein Properties has acquired the Bexley Stockyards apartments in Germantown, just outside Nashville, for $114.57 million. The property is a multifamily asset consisting of 342 units, with a price per unit of $335,000. Located at 222 Stockyard Boulevard, the apartments are situated in a desirable area in Nashville, TN.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $114,570,000
  • Units: 342
  • Price Per Unit: $335,000
  • Date: 12/06/2023
  • Market: Nashville, TN

Marcus Weinstein of Weinstein Properties acted as the buyer in this transaction, representing his company. On the other side, Marc Ricks of ShopCore Properties served as the seller. This acquisition marks a significant investment by Weinstein Properties, expanding their presence in the Nashville market.

Players

Marcus Weinstein

Weinstein Properties

Buyer

$208.6M

vol

2 deals

Buyer

Marc Ricks

ShopCore Properties

Seller

$189.1M

vol

3 deals

Seller

Nashville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.14%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93