Covenant Capital Group Acquires 170-Unit Multifamily Property In Nashville For $23 Million

The property asset involved in the transaction is a 170-unit multifamily building located at 500 Rep. John Lewis Way North in Nashville, TN. The transaction was completed for a sale price of $23,000,000, resulting in a price per unit of $135,294. The building features amenities such as apartments, a pool, gym, and rooftop terrace.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $23,000,000
• Buyer: Covenant Capital Group
• Seller: JEM Holdings
• Broker: Walker & Dunlop
• Units: 170
• Market: Nashville, TN
• PPU: $135,294

Covenant Capital Group acquired the property from JEM Holdings, which had previously purchased it in 2017. The transaction reflects a strategic investment in the Nashville market, overseen by Walker & Dunlop as the broker for the deal.