Embrey, Southstar Close on $71M Construction Loan for Nashville-Area Apartment Project
PCCP provided a $71 million senior construction loan to a joint venture between EMBREY Partners and Southstar Development for the development of Crossings Boulevard, a 360-unit apartment community located at 4101 Legacy Point Trail in Spring Hill, TN. Completion of the project is anticipated for Q1 2028. Spring Hill is about a half hour from Nashville.
The property will be a Class A, three-story, garden-style community located within a 213-acre master-planned community, which will encompass more than 400,000 square feet of commercial space, 300 hotel rooms, and 17 acres of recreational space.
Situated on 14 acres, the project has four floor plans and an average unit size of 933 square feet. On-site amenities will include a conference room and micro-offices, a fitness studio and yoga room, a pool with cabanas, a shaded outdoor kitchen with grills, dog park with water features, pet spa and grooming station, coffee bar, EV charging stations, and a secure package room with 24/7 access.
Other News
Investor Duo Acquires Two Tennessee LIHTC Apartment Assets
Western Wealth Capital (WWC) acquired two Tennessee apartment communities; the River City North Apartment Homes in Chattanooga, Tennessee, and Meadow Creek Apartment Homes in Goodlettsville, Tennessee, just north of Nashville. WWC and its investment partner, FSO Capital Partners (FSO), closed on the 192-unit portfolio for a purchase price of $20.7 million. The transaction was brokered...
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Construction Underway on 325-Unit Apopka Rental Community
An affiliate of Hathaway Development has started work on The Exchange at Wyle Oaks, a 325-unit apartment community is Apopka, near Orlando. The project is one of the first at the 215-acre Wyld Oak mixed-use project. Financing for the approximately $71 million development includes a $47 million construction loan from Ameris Bank and $22 million...
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JLL Arranges Financing for Lightstone Acquisition on Upper West Side
JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout