Denholtz Properties acquired 5150 JB Drive Apartments, a 384-unit, Class-A multifamily community at 5150 Jack Byrnes Drive in Murfreesboro, Tennessee.
5150 JB Drive Apartments is located in the Nashville MSA less than 30 minutes from downtown in the heart of Rutherford County, part of the Southeast Nashville corridor. Home to major employers such as Nissan North America, Amazon, State Farm, Ingram Content Group, Verizon Wireless, General Mills and Bridgestone/Firestone, Rutherford County is a key contributor to the regional economy and one of the Nashville MSA’s fastest-growing residential submarkets.
Constructed in 2020, 5150 JB Drive Apartments is among the rapidly growing region’s premier residential communities featuring a full luxury amenity package including a resort-style pool, 24-hour fitness center, car wash, dog park, fire pits, garage parking as well as top-of-the-line interior features and finishes including stainless steel appliances. The community’s location just three miles from the intersection of Routes 24 and 840 also allows residents to enjoy easy access to downtown Nashville and the entire Southeast Nashville corridor.
The acquisition marks the latest addition to Denholtz Properties’ rapidly growing southeastern portfolio. Over the last 12 months, the company has bolstered its portfolio of assets across the Southeast with several strategic acquisitions. In addition, the company also launched a joint venture in early 2022 to acquire and develop multi-tenant industrial properties with a total value of over $1 billion.
Earlier this year, Denholtz Properties celebrated the first acquisition for the joint venture – a 53,811-square-foot industrial building at 9201 Forsyth Park Drive in Charlotte, N.C. The company also acquired a 106,966-square-foot, seven-story office building at 618 East South Street in Orlando, Fla. earlier this year to further augment its robust office portfolio.
Late last year, Denholtz Properties also added Interstate Commerce Park, a five-building, 218,570-square-foot industrial park located in Greensboro, N.C.; a two-building, 106,068-square-foot office property at 1120 and 1130 Celebration Blvd. in Celebration, Fla. and Vida Apartments, a 289-unit luxury multifamily community in Kannapolis, N.C. to its portfolio.