Sunday, January 11, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Tennessee

LoansMultifamilySoutheastTennessee

BWE Arranges $19.8M Refinancing for Lanesborough Multifamily Community Near Knoxville

by John Nelson

FARRAGUT, TENN. — BWE has arranged a $19.8 million loan for the refinancing of Lanesborough, a multifamily community located in Farragut, roughly 20 miles southwest of Knoxville. Paul Harbor of BWE secured the Fannie Mae financing on behalf of the undisclosed borrower, with support from BWE colleagues J.R. Bertram, Libby Davis and John Segrest. Totaling 208 units, Lanesborough was 99 percent occupied at the time of sale. Amenities at the community, which was originally constructed in 1997, include a swimming pool, spa, clubhouse, community pond, fitness center, car wash station, garage parking, storage space, gated access and basketball, volleyball and tennis courts.

Continue Reading
FacebookTwitterLinkedinEmail
LoansMultifamilySoutheastTennessee

Eastern Union Secures $13M Refinancing for Garden View Apartments in Memphis

by John Nelson

MEMPHIS, TENN. — Eastern Union has secured a $13 million loan for the refinancing of Garden View Apartments, a multifamily community located at 1033 and 1087 Whitaker Drive in Memphis. Bellco Federal Credit Union provided the 30-year loan, which carries a 7.3 percent interest rate, to the undisclosed borrower. Built in 1963, Garden View Apartments totals 156 units across 15 buildings spanning 131,000 rentable square feet. The community features 60 one-bedroom units and 96 two-bedroom units. Motti Blau and Mendy Pfeifer of Eastern Union arranged the financing on behalf of the borrower. Dov Bakon of Eastern Union served as the underwriter for the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialSoutheastTennessee

USGBC Certifies REI Co-Op’s 400,000 SF Distribution Center Near Nashville as LEED v4 Platinum

by John Nelson

LEBANON, TENN. — The U.S. Green Building Council (USGBC) has certified REI Co-Op’s 400,000-square-foot distribution center in Lebanon as LEED v4 Platinum. Situated roughly 30 miles east of Nashville, the property is the largest LEED Platinum-certified industrial property in the Southeastern United States and one of 10 warehouses in the country to achieve LEED v4 Platinum certification, as well as the only facility in the state with that rating. Al. Neyer designed and developed the distribution center in 2023. Sustainable features of the REI distribution center include 100 percent renewable electricity via an onsite solar array, as well as a nearby solar array in east Tennessee that REI helps support; the use of reclaimed wood and metal sourced from the original barn onsite; a polished concrete stream inspired by the nearby Cumberland River; numerous skylights; and water systems to repurpose rain water. The Lebanon facility serves REI stores and customer online order fulfillment in the Midwest and Southeast, and complements REI’s three existing distribution centers in Bedford, Pa.; Goodyear, Ariz.; and Sumner, Wash. REI employs roughly 275 people at the Lebanon property, which has received industry awards from local chapters of national organizations including  NAIOP and ULI.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsRetailSoutheastTennessee

TSCG Brokers Sale of 98,466 SF Retail Center in Metro Memphis

by John Nelson

CORDOVA, TENN. — The Shopping Center Group (TSCG) has brokered the sale of Market at Cordova Shopping Center, a 98,466-square-foot retail center located at 1800 N. Germantown Parkway in Cordova, roughly 20 miles east of Memphis. N&L Holdings acquired the property for an undisclosed price. John Reed and Hurston Reed of TSCG represented the undisclosed sellers in the transaction, and Jon Isbell of TSCG represented N&L Holdings. Anchor tenant The Life Church will vacate the center, opening up space that the new owner plans to populate with an Asian supermarket, food hall and a community gathering spot dubbed Grand Super Market, which will occupy the 55,000-square-foot anchor space.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilySoutheastTennessee

IPA Brokers Sale of 216-Unit Solis Apartments in Clarksville, Tennessee

by John Nelson

CLARKSVILLE, TENN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Solis, a 216-unit apartment community located in Clarksville, roughly 40 miles from Nashville. A private buyer based in California purchased the property from Gwaltney Communities for an undisclosed price. David Stollenwerk, Will Balthrope and Drew Garza of IPA represented the seller and procured the buyer in the transaction. Marcus & Millichap’s broker of record in Tennessee for the deal was Jody McKibben. Built in 2020, Solis features garden-style apartments averaging 1,089 square feet in size, as well as a saltwater swimming pool, 24-hour fitness center and a theater room.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentSoutheastStudent HousingTennessee

Core Spaces, Schenk Realty Plan 800-Bed Student Housing Development Near University of Tennessee

by John Nelson

KNOXVILLE, TENN. — A joint venture between Core Spaces and Schenk Realty has announced plans for an 800-bed student housing development located near the University of Tennessee campus in Knoxville. Located at 1801 Cumberland Ave., the community will rise seven stories and offer 215 units in studio through five-bedroom configurations. Shared amenities will include a rooftop swimming pool, hot tub and sun deck, as well as ground floor retail. Construction on the project is set to begin in spring 2025. In addition to this unnamed project, Core Spaces and Schenk are also currently developing Hub Knoxville, a nearby student housing development that will comprise 1,600 beds.

Continue Reading
FacebookTwitterLinkedinEmail
Market ReportsOfficeSoutheastSoutheast Market ReportsTennessee

Memphis Office Market Holds Steady Amid Post-Pandemic Headwinds

by John Nelson

The Memphis office market continues to defy national post-pandemic office trends, fueled by persistent occupier demand and limited amounts of vacancy within primary submarkets. Although, the market closed out the 2023 year with 34,430 square feet of occupancy losses caused by two large tenant vacancies, the first quarter of 2024 reversed the trend as net absorption swung positive, recording 140,788 square feet of occupancy gains.  The Memphis unemployment rate remained low at 3.5 percent in May, just above the Tennessee unemployment rate of 3.0 percent and below the national average of 4.0 percent, according to data from the U.S. Bureau of Labor Statistics.  Ford Motor Company’s Blue Oval City began its hiring in 2023, with most of its hiring to occur in the second half of this year, which could begin to further compress the unemployment rate, as approximately 5,600 direct jobs are estimated to be created in West Tennessee. The company leased 42,910 square feet of office space on the edge of the Memphis office market. The auto giant plans to use the new space as a training facility.  Additionally, the Elon Musk-led xAI company announced Memphis as being the new home for its “Gigafactory of Compute,” claiming to …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilySoutheastTennessee

Lion Real Estate Group Acquires 312-Unit Bradford Woods Apartments in Nashville

by John Nelson

NASHVILLE, TENN. — Lion Real Estate Group (LREG) has acquired Bradford Woods, a 312-unit apartment community located at 5242 Edmondson Pike in Nashville. The seller and sales price were not disclosed. Walker & Dunlop’s Nashville office brokered the transaction, which included LREG assuming an existing Fannie Mae loan. LREG plans to rebrand the property as The Grove Brentwood and completely overhaul the leasing office/clubhouse, gym, pool area and all other onsite amenities. Additionally, the company plans to modernize unit interiors with stainless steel appliances, quartz countertops and upgraded lighting. The Grove Brentwood is LREG’s fourth acquisition in its current investment vehicle and 26th property overall in its portfolio that spans across five states.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLoansRetailSoutheastTennessee

CBRE Secures Construction Financing for Publix-Anchored Shopping Center in Metro Nashville

by John Nelson

NOLENSVILLE, TENN. — CBRE has secured $38.6 million in construction financing for the development of Village Green, a 90,525-square-foot shopping center currently underway in Nolensville, roughly 20 miles outside Nashville. Upon completion, the development will comprise nine buildings situated on a 17-acre site at the intersection of Nolensville and Rocky Fork roads. Publix will anchor the center. Other tenants at the property will include Heartland Dental, Club Pilates, Jersey Mike’s, Waxing the City, Hand & Stone Massage and Facial Spa and Physicians Urgent Care. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE arranged the loan through ServisFirst Bank on behalf of the borrower, Watkins Real Estate Group. Construction is scheduled for completion in summer 2025.

Continue Reading
FacebookTwitterLinkedinEmail
AlabamaGeorgiaLoansLouisianaSeniors HousingSoutheastTennessee

Dwight Mortgage Trust Provides $142M Acquisition Financing for Southeast Skilled Nursing Portfolio

by John Nelson

MIAMI — Dwight Mortgage Trust, the affiliate REIT of Miami-based Dwight Capital, has provided a $142 million bridge acquisition loan for a portfolio of 10 skilled nursing facilities in urban areas surrounding Atlanta, Memphis, Mobile, Ala., and Shreveport, La. The properties include Bell Minor Home in Gainesville, Ga.; Cambridge Post Acute Care Center in Snellville, Ga.; Nurse Care of Buckhead in Atlanta; Riverside Health Care Center in Covington, Ga.; Rockdale Healthcare Center in Conyers, Ga.; Westminster Commons in Atlanta; Millington Healthcare Center in Millington, Tenn.; Parkway Health and Rehabilitation Center in Memphis; Kensington Health and Rehabilitation in Mobile; and Highland Place Rehabilitation and Nursing in Shreveport. Collectively, these facilities total 1,371 beds. Adam Offman and Sheldon Frankel originated the loan. Details on the buyer and seller were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts