Matthews Real Estate Investment Services completed the $7.75 million sale of Nashville Edge Apartments, which comprises 50 units totaling 33,052 square feet. The multifamily property is located at 126 Kingsridge Drive in La Vergne, Tennessee.
Associate Vice President Austin Graham and Associate Austin Tomaiko represented the seller in the acquisition.
The seller, a private investor, has been in possession of the facility since 2019 and achieved a 343 percent return on their investment. Nashville Edge Apartments was acquired by a Southern California-based multifamily investor looking to expand his portfolio within the Nashville MSA. Matthews utilized its extensive database to create a competitive bidding environment, reaching qualified investors nationwide.
Nashville Edge Apartments offer a mix of one- and two-bedroom units in the Nashville MSA with a 12.5 percent year-over-year rent growth. The facility boasts a 95 percent occupancy rate, spanning four buildings on a 4.74-acre lot.
