Hamilton Zanze’s acquisitions of 865 Bellevue and Post Ridge Apartments were recently featured in Multi-Housing News as one of the top-5 multifamily transactions in Nashville:
Investors, developers and employers have long touted Nashville, Tenn., as a city on the rise. Boasting considerable population, job and rent growth, there are many opportunities in the metro across all real estate asset types. Multifamily properties continue to perform well, evidenced by rising rents and nearly $500 million in deals closed in the first half of the year.
2. 865 Bellevue and Post Ridge Apartments
Hamilton Zanze entered the metro with a bang in April with the $80.2 million acquisition of two communities from Aimco. The properties total 476 units and are both located in the Bellevue submarket. Cantor Fitzgerald partnered with Hamilton Zanze to purchase the 326-unit 865 Bellevue Apartments, and two private investors joined forces with the buyer on the 150-unit Post Ridge Apartments buy. KeyBank provided acquisition financing for the deal through Fannie Mae. The $36.8 million mortgage encumbering 865 Bellevue carries a 4.04 percent interest rate over a 10-year term, while the smaller, 10-year loan of $18.1 million on Post Ridge bears a fixed, 4.37 percent interest rate.
Read the full article at Multi-Housing News.