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615 Old Hickory Boulevard

TA Realty Expands Nashville Portfolio With Acquisition Of Novel Harpeth Heights Apartments
SOLDMultiFamily

TA Realty Expands Nashville Portfolio With Acquisition Of Novel Harpeth Heights Apartments

615 Old Hickory Boulevard

$99,340,000

Building Size

Asset Type

MultiFamily

Closing

Oct 14, 2023

AI

The Novel Harpeth Heights apartments in Bellevue, Nashville have been sold in a recent transaction. The multifamily property was purchased by James O. Buckingham, representing TA Realty, for a total sale price of $99,340,000. The property consists of 322 units, with an average price per unit of approximately $308,509.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $99,340,000
  • Address: 615 Old Hickory Boulevard, Nashville, TN
  • Market: Nashville, TN
  • Buyer: James O. Buckingham - TA Realty
  • Seller: Brian Natwick - Crescent Communities
  • Units: 322
  • Price per Unit: $308,509

James O. Buckingham, representing TA Realty, has expanded their Nashville-area portfolio with the acquisition of the Novel Harpeth Heights apartments. The purchase of this property further strengthens their presence in the Bellevue area. On the other hand, Brian Natwick, representing Crescent Communities, acted as the seller in this transaction.

Players

James Buckingham

TA Realty

Buyer

$870.8M

vol

11 deals

Buyer

Brian Natwick

Crescent Communities

Seller

$99.3M

vol

2 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

0.16%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93