New best-in-class Nashville multi-housing development sells

ATLANTA, May 12, 2022 – JLL Capital Markets announced today that it has closed sale of Accent Edgewood, a 236-unit, Class A, mid-rise, lease-to-core multi-housing asset in the Wedgewood-Houston neighborhood of Nashville, Tennessee.

JLL represented the seller, Westplan Investors. PassiveInvesting.com acquired the asset.

Accent Edgewood features units with top-of-the-line finishes, including high ceilings, energy efficient lighting, granite countertops, stainless steel appliances, luxury vinyl, hardwood flooring, full-sized washer and dryer, large walk-in closets and expansive windows. Community amenities include a 24-hour gym, resort style pool, a pet washing spa, a bark park, a bicycle storage, a sky lounge, a coffee bar, co-working space and a recording room.

Located at 2165 Nolensville Pike, the property is just ten minutes south of downtown Nashville and a few minutes south of the heart of the Wedgewood-Houston Neighborhood which features the May Hosiery, a redevelopment that includes 175 thousand square feet of creative office and retail space, and Nashville Warehouse Co., a 150-thousand-square-foot creative office and outdoor music venue. The community also has immediate access to the recently opened Nashville Soccer Club Stadium, which is the largest soccer-specific stadium in the United States, and The Fairgrounds Nashville.

The JLL Capital Markets Sales and Advisory team representing the seller was led by Senior Managing Director John Weber, Senior Director Ian Anderson and Director Vic Ciancetta.

“Investors continue to aggressively target Nashville due to its impressive growth, resilient economy and stellar multi-housing fundamentals,” said Anderson. “Accent Edgewood provides a phenomenal opportunity to purchase a brand-new, Class A asset surrounded by redevelopment with close proximity to jobs.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Westplan Investors has invested in more than $2 Billion in real estate since its inception in 1994 with a primary focus on apartments. We have dedicated ourselves to excellence in providing and managing equity investment products for our clients in residential U.S. real estate. We are proud of our proven track record which has contributed to our trusted reputation. For further information about Westplan, please contact Rob Carter or Brad Johnson at 770-390-9378 or visit www.westplan.com.

PassiveInvesting.com is a private equity real estate investment firm focused on building passive income and equity for its investors through risk-adjusted real estate investments across the United States. In 2018, the three managing partners, Dan Handford, Danny Randazzo, and Brandon Abbott, joined forces and have since then acquired just over $1 Billion in real estate assets.