JV Pays Nearly $15M on Property for Nashville Apartment, Retail Venture
TDK Cos. and Imagine1 Co. plan to build 280 apartment units and some retail space on a 6-acre property near Geodis Park. The company paid $14.9 million for the site, which has a large warehouse that must be razed before development can begin. MSA Investors was the seller. The Nashville Business Journal reports the firms have secured $58.6 million in construction financing from Atlantic Union Bank.
The developer duo plans to call the project Vintage Fair Park and start work on it before the end of the year. Besides the rental units, the hub will include 10,300 square feet of retail space. Other features planned for the development include a pool, pickleball courts, fitness center, dog park and more.
Vintage Fair Park is the fourth joint venture project between TDK Cos. and Imagine1, which have partnered on other projects in Mt. Juliet and Nolensville. TDK Cos. has developed 22 projects totaling more than 5,200 apartments across Middle Tennessee.
Other News
Manga Adds 160 Rental Apartments To Toronto Hotel Development
Manga Hotel Group is adding 160 purpose-built rental apartments to a downtown Toronto hotel development, replacing an approved hotel-only plan with a 30-storey mixed-use tower. The revised proposal for 689 King St. W. would retain a substantial hospitality component, with 251 hotel suites and a restaurant occupying the first 13 storeys. The rental apartments would...
Learn more
CBRE Arranges $30M Sale of Multifamily Portfolio in Madison
CBRE has arranged the sale of a two-property multifamily portfolio totaling 108 units in Madison. Back Nine Acquisitions, LLC, purchased the property from Flad Development & Investments for $29.95 million. CBRE’s Gretchen Richards, Matson Holbrook and Sean Beuche represented the seller in the transaction. The portfolio includes The Tradition at Smoky’s Club, a 59-unit property...
Learn more
Anthem Sells 3 B.C. Retail Centres As Condo Slump Squeezes Cash
Anthem Properties is selling shopping centres to help weather Vancouver’s struggling condominium market, with three more B.C. retail properties changing hands as the developer works to strengthen its finances. In a Nov. 5 letter to stakeholders, CEO Eric Carlson acknowledged that unsold condominiums are taking longer to sell and fetching lower prices, forcing Anthem to...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout