David Schwartz Of Waterton Acquires 560-Unit Wyndchase Aspen Grove In Franklin For $128.11M

The multifamily asset located at 3100 Aspen Grove Drive in Franklin, TN, encompasses 60 acres and consists of 560 units. The sale price for the property was $128,110,000, resulting in a per unit price of $228,768. Constructed in 1997, the property presents value-add potential, which the new owner intends to leverage while continuing to provide attainable rental options.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $128,110,000
• Buyer: David Schwartz - Waterton
• Seller: David Olney - Berkshire Residential Investments
• Units: 560
• Acres: 60
• PPU: $228,768

David Schwartz represented Waterton in the acquisition of the Wyndchase Aspen Grove apartment community from seller David Olney, who represented Berkshire Residential Investments. The deal involved purchasing the property at a discount, below its 2019 purchase price, indicating strategic repositioning efforts planned by Waterton.