Transaction Marks a Per-Unit Record for Submarket
Nashville, TN— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of a new-build multifamily complex located at 100-136 Hartsville Court, Lebanon, TN. The complex consists of 19 townhomes on a 1.7-acre lot. Associate Vice President Austin Graham and Associate Austin Tomaiko represented the seller in the transaction.
Built in 2021, this community was sold by Dreamstone Investments, a multifamily real estate firm, which received a three-year return on metrics in year one of operation. The facility was acquired by Amherst Holdings, a real estate investment and development firm seeking an opportunistic property with high optimization.
“This 19-home property allows the buyer the unique opportunity to optimize operations, rents, or even sell the units one by one at approximately $330,000 each,” said Graham.
Lebanon is an affluent suburb of Nashville, with an average annual household income at $77,644 and a population of approximately 34,000. This transaction marks a per-unit record for Lebanon, which has an 18 percent year-over-year rent growth.
“The utilization of our combined databases allowed us to target a specific pool of buyers looking for a an investment with immense opportunity,” said Tomaiko. “Navigating the tricky waters brought on by high interest rates forced us to be creative, ultimately finding middle-ground and achieving the long-term financial objectives of both parties.”
For more information, or to contact Austin Graham and Austin Tomaiko, please visit www.matthews.com.
About Matthews™
Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 14 offices across the United States, continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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