Tennessee

Stos Partners Acquires 169,855 SF Warehouse in Nashville for $26M

by Abby Cox May 4, 2026

NASHVILLE, TENN. — San Diego-based Stos Partners has acquired 640 Massman Drive, a 169,855-square-foot warehouse located in Nashville, for $26 million. The infill property was fully leased to Cumberland International Trucks at the time of sale. Todd Prevost and Jackson Pavitt of Big Tent Co. represented Stos Partners in the transaction. The seller was a private investor. Aldon Cole, Brad Vansant and Jenna Frakes of JLL arranged financing for the acquisition. 640 Massman Drive was constructed in two phases and can accommodate multiple tenants. The first phase — completed in 1970 — features 22-foot clear heights, three dock-high doors, two grade-level doors and nearly 2 acres of green space. The second phase, which was completed in 2000, was an expansion that included 30-foot clear heights, five dock-high doors and one additional grade-level door.

May 4, 2026

Build-to-Rent Loans Southeast Tennessee

TWO Capital, Origin Secure Construction Financing for 199-Unit Build-to-Rent Community in Madison, Tennessee

by Abby Cox May 4, 2026

MADISON, TENN. — TWO Capital Partners and Origin Investments have secured construction financing for the development of Tessa Madison, a 199-unit build-to-rent community located in Madison, about 12 miles northeast of downtown Nashville. Patterson Real Estate Advisory Group arranged the undisclosed amount of financing through Invitation Homes. TWO Resi Build, a wholly owned subsidiary of TWO Capital Partners, will serve as the project’s general contractor. Tessa Madison is situated on 55 acres within a Qualified Opportunity Zone, which is an economically distressed area where new investments may be eligible for preferential tax treatment. The community will consist of a mix of for-rent townhomes and detached single-family rental homes, with an average unit size of 1,851 square feet. All units will feature three- or four-bedroom floorplans, two-car attached garages and private driveways. Amenities will include a resort-style swimming pool, clubhouse, fitness center, coworking space, outdoor pavilion and a dog park.

May 4, 2026

Acquisitions Industrial Mississippi Southeast Tennessee

Provident Industrial Acquires 2.5 MSF Portfolio in Metro Memphis

by John Nelson April 28, 2026

MEMPHIS, TENN. — Provident Industrial, a division of Dallas-based Provident, has acquired a 13-property industrial portfolio across the Memphis area totaling more than 2.5 million square feet. Case Van Lare and Christopher Martin led the Provident Industrial team in the transaction. The firm plans to hold the portfolio as a long-term investment opportunity. The seller and sales price were not disclosed, but the Memphis Business Journal reports that the seller was Blackstone Real Estate Income Trust Inc. and that 11 assets within Shelby County, Tenn., sold for $115 million. The outlet also reports that Provident Industrial purchased 33.7 acres in DeSoto County, Miss. Tenants within the portfolio include The Home Depot, UPS, Northstar and GXO, according to Memphis Business Journal.

April 28, 2026

Development Multifamily Southeast Tennessee

Novare, BCDC Welcome Residents to 271-Unit Apartment Community in Knoxville

by John Nelson April 24, 2026

KNOXVILLE, TENN. — A joint venture between Novare Group and Batson-Cook Development Co. (BCDC) has begun tenant move-ins at Elmstead West Knoxville, a 271-unit apartment community located at 962 Mabry Hood Road in Knoxville. The property features a mix of one-, two- and three-bedroom residences, as well as a resort-style pool, private garages, coworking lounge, fitness center, clubroom, grilling stations, fire pits, a dog park and pet spa. Monthly rental rates at Elmstead West Knoxville start at $1,557, according to the property website. The design-build team includes architect Dynamik Design and general contractor Summit Contracting Group. SouthState Bank provided construction financing to Novare and BCDC.

April 24, 2026

Acquisitions Seniors Housing Southeast Tennessee

NHI Agrees to Sell Skilled Nursing Portfolio to National HealthCare Corp. for $560M

by John Nelson April 23, 2026

MURFREESBORO, TENN. — National Health Investors (NHI) has executed an agreement to sell a seniors housing portfolio to National HealthCare Corp. (NHC) for a total of $560 million. The portfolio includes 32 skilled nursing facilities and three independent living facilities. NHC currently operates the properties on behalf of NHI. In 2025, the portfolio generated cash lease revenue of roughly $39.7 million for NHI. According to NHI, the Murfreesboro-based company expects this move to increase its concentration in the category of private-pay seniors housing. Following the transaction, NHI’s senior housing operating portfolio segment will represent roughly 22 percent of its total investments, with skilled nursing exposure to represent 12.2 percent of total investments. In a statement, NHI also noted that this sale will “eliminate potential conflicts of interest between NHI and NHC.” Closing of the transaction is expected on July 1, subject to customary closing conditions. NHI expects to incur transaction costs between $6 million and $8 million. Blueprint Healthcare Real Estate Advisors is serving as the transaction advisor for NHI. Houlihan Lokey Capital is acting as financial advisor to a special committee of non-interested directors that was appointed to review the sale, and Venable LLP is serving as the committee’s …

April 23, 2026

Acquisitions Healthcare Southeast Tennessee

Maddox Brokers $11M Sale of Medical Office Building in Knoxville

by Abby Cox April 17, 2026

KNOXVILLE, TENN. — Maddox Cos. has brokered the $11 million sale of the WestMed Building, a 55,000-square-foot medical office building situated on Sherrill Boulevard in Knoxville. Maddox Cos. represented both the seller, Knorr Family Properties, and the buyer, Clear Passage LLC, in the transaction. Built in 2004, the healthcare property sits on roughly 3 acres, according to LoopNet.

April 17, 2026

Acquisitions Retail Southeast Tennessee

Carmichael Capital Acquires 22,802 SF Adaptive Reuse Retail Property in Nashville

by John Nelson April 16, 2026

NASHVILLE, TENN. — Carmichael Capital LLC, a locally based real estate investment firm founded by Taylor Camp, has acquired The Mill, a 22,802-square-foot adaptive reuse retail property located at 515 Merritt Ave. in Nashville’s Wedgewood-Houston neighborhood. SomeraRoad, an active mixed-use development firm in the Nashville market, sold the property for an undisclosed price. The Mill’s tenant roster comprises retail and restaurant concepts including Indochino, Hermitage Kitchen Gallery, Gordo’s Taqueria and BC Block Fitness. Kipper Worthington of Cushman & Wakefield handles the leasing assignment at The Mill, which is the second acquisition in the Wedgewood-Houston neighborhood for Carmichael Capital.

April 16, 2026

Acquisitions Multifamily Southeast Tennessee

JLL Negotiates Sale of Two Nashville Multifamily Communities Totaling 177 Units

by Abby Cox April 13, 2026

NASHVILLE, TENN. — JLL Capital Markets has negotiated the sale of two apartment properties in Nashville’s Hillsboro Village neighborhood totaling 177 units: Belcourt Park and Village 21 at Regions Park. Nick Brown, Peter Yorck and John Weber of JLL represented the seller, Atlanta-based TriBridge Residential, in the off-market transaction. A partnership between Harrison Street Asset Management and Nashville-based Elmington Residential purchased the properties for $54.8 million, according to the Nashville Business Journal. Village 21 at Regions Park opened in 2017 and offers 101 units, including retail space with tenants such as E3 Chophouse, Taco Mama and Bad Ass Coffee, among others. Elmington and Harrison Street only acquired the apartment portion of the development. Belcourt Park, a 76-unit property, stands four stories tall with units averaging 646 square feet in size.

April 13, 2026

Leasing Activity Office Southeast Tennessee

Stream Realty Inks 35,000 SF of Leases at 5 City Office Tower in Nashville

by Abby Cox April 13, 2026

NASHVILLE, TENN. — Stream Realty Partners has inked five leases over the past two months at 5 City, a newly delivered, 344,000-square-foot office tower in Nashville. Chicago-based Convexity Properties is the owner and developer of the 15-story tower. National law firm Dickinson Wright signed a 16,116-square-foot lease, relocating from its previous office in downtown Nashville, while investment management and financial advisory firm Nephila Advisors signed a 9,954-square-foot lease. Additional tenants include Jay-Bee Oil and Gas, which is opening its first Nashville office; Precision Field Services, a mortgage services and property preservation business; and a San Francisco-based music label and publisher. The five leases total approximately 35,000 square feet. Charlie Gibson, Stewart Lyman and Maddy Sickels of Stream Realty manages the office leasing efforts at 5 City for Convexity. Liz Craig of Foundry Commercial oversees the property’s retail leasing. JLL represented Dickinson Wright and Nephila Advisors in their lease transactions, while CBRE represented Jay-Bee Oil and Gas and Precision Field Services. Kasa Real Estate represented the music label and publisher. Designed by Goettsch Partners, 5 City offers a mix of amenities including an outdoor terrace space; a tenant lounge; training and conference center with seating for up to 100 people; an onsite …

April 13, 2026

Acquisitions Office Tennessee

SVN | Wood Brokers Sale of 23-Story Riverview Tower in Downtown Knoxville

by John Nelson April 8, 2026

KNOXVILLE, TENN. — SVN | Wood Properties has brokered the sale of Riverview Tower, a 23-story office tower located at 900 S. Gay St. in downtown Knoxville. Apex Bank purchased the building for an undisclosed price from an affiliate of Hertz Investment Group. George Brown and Taylor Thompson of SVN | Wood represented the seller in the transaction, which closed in approximately four months from the listing date. Riverview Tower spans 334,197 square feet of offices with floor-to-ceiling windows on every level. The acquisition includes an adjacent multi-level parking garage. Apex Bank has selected SVN | Wood to continue leasing the office tower.

April 8, 2026

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