165
NASHVILLE, TENN. — Covenant Capital Group LLC has sold 500 5th Avenue, a 170-unit apartment community located in downtown Nashville, for $27.3 million. 500 Fifth LLC, an entity controlled by JEM Holdings, purchased the property. Covenant originally acquired the asset, formerly known as Metro Manor Apartments, in 2015 for $15.8 million. The company invested nearly $8.2 million in the project, executing renovations including a new entrance, fitness center, business lounge, bike room, sky terrace and rooftop pool. Covenant also renovated apartment interiors and installed new appliances and cabinetry.