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800 4th Avenue South

Updated Dec 4, 2024

AND Asset Management Acquires Broadstone SoBro Multifamily Project In Nashville For $78.5M
SOLDMultiFamily

AND Asset Management Acquires Broadstone SoBro Multifamily Project In Nashville For $78.5M

800 4th Avenue South

$78,500,000

Units

226

Asset Type

MultiFamily

Closing

Sep 28, 2023

About this deal

AI

Broadstone SoBro, a 226-unit multifamily property located at 800 4th Avenue South in Nashville, TN, has been sold for $78.5 million. The property was acquired by AND Asset Management from Alliance Residential Co, with Bruce Ward serving as the seller's representative and Brett Carr from CBRE acting as the broker.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $78,500,000
  • Units: 226
  • Price Per Unit: $347,345

In this deal, AND Asset Management has successfully acquired the Broadstone SoBro apartment project. The transaction was facilitated by seller Alliance Residential Co, with Bruce Ward representing their interests. The brokerage services were provided by Brett Carr of CBRE. The property, located at 800 4th Avenue South in Nashville, TN, consists of 226 units. The sale price for the property was $78.5 million, resulting in a price per unit of $347,345.

On the Map

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$78,500,000

MultiFamily

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Players

Brett Carr

CBRE

Broker

$240.5M

vol

2 deals

Broker
AM
AND Asset ManagementBuyer

Bruce Ward

Seller

$235.2M

vol

3 deals

Seller

Nashville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $347.3K per unit across 226 units on a published $78.5M (2023).

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Browse Nashville multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.20%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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