MURFREESBORO, TENN. — American Landmark and its joint venture partner, BentallGreenOak, have acquired Parc at Murfreesboro, a 359-unit multifamily property located in Murfreesboro, about 34.4 miles south of Nashville. Equity Resources sold the property for $78.9 million.
Located at 3237 Memorial Drive, Parc at Murfreesboro offers one-, two- and three-bedroom floor plans with an average square footage of 995 per unit. Built in 2021, each apartment has its own washer and dryer, wood-style flooring, smart home thermostats, door locks, lighting fixtures, granite countertops and stainless steel appliances. Community amenities include a swimming pool with cabanas and a fire pit, fitness center, a yoga lawn and Zen area, electric vehicle charging stations, pet park, dog wash station and detached garages. The property was 99 percent occupied at the time of sale with rents starting at $1,169 per month, according to Apartments.com.
American Landmark, a Tampa-based multifamily owner-operator, is managing the property. The firm plans to implement additional improvements including adding landscape beautification, a designer clubhouse, pool deck furniture and smart locks throughout the common areas.
BentallGreenOak is a global real estate investment management advisor firm that’s U.S. headquarters are in New York City. BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life Financial Inc.