Matthews Real Estate Investment Services completed a 1031 Exchange of Nashville Edge Apartments into two industrial properties at 4027 Murfreesboro Pike in Antioch, Tennessee, and 2818 Whites Creek Pike in Nashville.
The industrial properties sold for a combined total of nearly $7 million. Associate Austin Tomaiko and Associate Vice President Austin Graham represented the buyer, while Senior Associate Jay Reeves and Vice President Harrison Auerbach represented both sellers of the upleg assets.
The 1031 Exchange buyer, a Nashville private owner, wanted to capitalize on the market and exchange into an income-producing asset that increased cash flow and required less management than multifamily. Nashville Edge Apartments originally sold in late 2022. From there, Tomaiko and Graham used Matthews proprietary shared database to present potential upleg investments.
