Tennessee

Cronheim Hotel Capital Secures $39M Construction Financing for AC Hotel Knoxville Downtown

by John Nelson July 9, 2025

KNOXVILLE, TENN. — Cronheim Hotel Capital has secured $39 million in construction financing for AC Hotel Knoxville Downtown, a 161-room AC by Marriott-branded hotel that will be located at 427 Walnut St. and 416 Locust St. in downtown Knoxville. The non-recourse financing was structured with a 75 percent loan-to-cost (LTC) ratio and features a C-PACE component. The borrower, Vector Hospitality Inc., plans to deliver the seven-story hotel in winter 2026. The property will feature a rooftop bar and kitchen that will offer views of Neyland Stadium, home of the University of Tennessee Volunteers’ football team.

July 9, 2025

Acquisitions Office Southeast Tennessee

Gorney Realty Acquires 90,000 SF Office Building in Knoxville, Tennessee

by John Nelson July 9, 2025

KNOXVILLE, TENN. — Gorney Realty Co. LLC, a family-owned office and industrial investor based in Nashville, has purchased Cedar Ridge at Cedar Bluff, a 90,000-square-foot office building located at 480 N. Cedar Bluff Road in Knoxville. The seller and sales price were not disclosed. The five-story property was 93 percent leased at the time of sale to approximately 30 tenants, some of which have been occupants for nearly 20 years. Gorney Realty plans to upgrade Cedar Ridge at Cedar Bluff’s common areas, including the building’s lobby and restrooms.

July 9, 2025

Acquisitions Industrial Leasing Activity Southeast Tennessee

Cushman & Wakefield Commercial Advisors Arranges Sale-Leaseback of Two Memphis Industrial Facilities

by John Nelson July 7, 2025

MEMPHIS, TENN. — Cushman & Wakefield Commercial Advisors has arranged the sale-leaseback of two industrial facilities in Memphis totaling 250,000 square feet. AIC purchased the facilities, located at 2149 Harbor Ave. and 2172 Wharf St., from the tenant, Red Dot Corp. Red Dot designs and manufactures HVAC systems for commercial and military vehicles. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial Advisors, along with Frank Maldonado and Dan Johnsen of Cushman & Wakefield, represented Red Dot in the sale and long-term lease of the two facilities. Terms of the transaction were not released.

July 7, 2025

Acquisitions Southeast Student Housing Tennessee

Transwestern Arranges $26.3M Sale of Student Housing Community Near East Tennessee State University

by John Nelson June 24, 2025

JOHNSON CITY, TENN. — Transwestern Real Estate Services has arranged the $26.3 million sale of Monarch 815, a 576-bed student housing property located at 1109 University Parkway near the East Tennessee State University campus in Johnson City. Mike McGaughy, Jon Kleinberg and Bradley Fulkerson of the firm’s National Student Housing team represented the seller, an entity doing business as 1109 University Parkway Holdings, in the disposition. Logen Capital acquired the property via commercial real estate auction platform RI Marketplace. Built in 2014, the community consists of four residential buildings offering 176 fully furnished units. Shared amenities include a resort-style pool, fitness center, private yoga studio, billiards room and a dog park.

June 24, 2025

Leasing Activity Multifamily Southeast Tennessee

Hines Launches Leasing at 300-Unit Rowley Apartment Complex in Murfreesboro, Tennessee

by Abby Cox June 20, 2025

MURFREESBORO, TENN. — Houston-based Hines has launched leasing for The Rowley, a 300-unit apartment complex located within the Clari Park mixed-use development in Murfreesboro. The development offers a mix of studios, one-, two- and three-bedroom residences ranging in size from 653 square feet to 1,359 square feet, according to Apartments.com. Rental rates for a studio apartment begin at $1,750. Amenities at The Rowley include a central village green lawn for social gatherings and events, resort-style swimming pool with cabanas, Zen garden with an outdoor yoga lawn and relaxation zones, as well as a dog park and spa. Additionally, the community includes indoor amenities such as a two-story clubroom, bar with a sports simulator room, entertainment lounges, private conference rooms, podcast room, coworking lounge and a fitness center, with 17 micro-office suites for residents who are hybrid or remote employees. Clari Park spans 78 acres and features a mix of retailers and restaurants like CAVA, Drake’s, Neighbors, Firebirds Wood Fired Grill, Main Event, In-N-Out Burger, Raising Cane’s and Whataburger, as well as a TownPlace Suites by Marriott hotel.

June 20, 2025

Acquisitions Hospitality Southeast Tennessee

Hunter Hotel Advisors Negotiates Sale of 126-Room Hyatt Place Hotel in Franklin, Tennessee

by John Nelson June 11, 2025

FRANKLIN, TENN. — Atlanta-based Hunter Hotel Advisors has negotiated the sale of Hyatt Place Nashville Franklin Cool Springs, a 126-room hotel located adjacent to the CoolSprings Galleria mall in Franklin. The hotel is located in the heart of metro Nashville’s CoolSprings neighborhood. Amenities at the hotel include an onsite fitness center, pool and business center. The buyer, INNIN Hotel Partners LLC, plans to rebrand the hotel’s flag to Hyatt Select. Tim Osborne of Hunter brokered the transaction. An undisclosed institutional investor sold the hotel for an undisclosed price.

June 11, 2025

Affordable Housing Development Multifamily Southeast Tennessee

Trent Development Group Opens 228-Unit Affordable Housing Community in Madison, Tennessee

by John Nelson June 5, 2025

MADISON, TENN. — Trent Development Group has opened Birchstone Village, a 228-unit affordable housing community located at 616 N. DuPont Ave. in Madison, about 12 miles northeast of downtown Nashville. The community is a redevelopment of the former Berkshire Place Apartments. Key financial and civic partners in the project include Pathway Lending, Amazon Housing Equity Fund, Regions Bank, Metro Nashville’s Barnes Housing Trust Fund, JPMorgan Chase, the Metropolitan Development and Housing Agency and the Tennessee Housing Development Agency. Trent Development and Pathway Lending hosted a ribbon-cutting ceremony for the property last week. Birchstone Village offers one-, two- and three-bedroom floorplans, along with a community lounge, learning center, sports court and a fitness center, according to the property website. Additionally, Family Affairs Ministries offers residents with resources including job placement coaching, financial literacy classes, tutoring and community meals.

June 5, 2025

Development Hospitality Loans Mixed-Use Southeast Tennessee

Concord Summit Capital Secures $25M Loan for Park Place Equinox Hotel Tower in Downtown Nashville

by John Nelson June 2, 2025

NASHVILLE, TENN. — Concord Summit Capital has secured a $25 million bridge loan for Park Place Equinox, a hotel tower located within the 2.1-acre Park Place master-planned community in downtown Nashville. The loan will refinance an existing acquisition facility and provide pre-development funding for the project that will support final design and entitlement work. Kevin O’Grady, David Larson and Keegan Burger of Concord Summit’s Miami office arranged the financing on behalf of the co-developers, The Congress Group and Taurus Investment Holdings. The hospitality tower will be one of the first new developments branded and operated by Equinox Hotels. Plans for Park Place Equinox will include an 18,000-square-foot Equinox Club and spa, rooftop pool and lounge and exclusive resident amenities. At full build-out, the three-tower Park Place development will feature a 239-unit luxury condominium tower, 245-room hotel, 480-unit apartment building, more than 25,000 square feet of ground-floor retail space, a 962-space underground parking garage and 50,000 square feet of elevated park and open green space. Park Place is currently in pre-development phases, with vertical construction anticipated to begin in 2026.

June 2, 2025

Development Leasing Activity Office Southeast Tennessee

Amazon to Expand Office Footprint at Nashville Yards, Begin Interior Work at Second Tower

by John Nelson May 15, 2025

NASHVILLE, TENN. — Amazon has announced plans to expand at Nashville Yards, a 19-acre mixed-use development in downtown Nashville owned by Southwest Value Partners. The Seattle-based e-commerce giant has leased an entire floor at the development’s CAA Creative Office Building, which houses tenants including CAA, AEG Presents, Messina Touring, AXS and L-Acoustics. Several divisions of Amazon, including Amazon Music, will operate out of the Class A office building. Additionally, Amazon announced it is beginning the interior build-out of its second office tower at Nashville Yards, including a multi-story conference center and first-floor retail space. Amazon plans to occupy the second tower in 2026. Amazon’s new offices at Nashville Yards will sit adjacent to The Pinnacle, the development’s new indoor live music and event venue, and in close proximity to restaurants and other users including Ocean Prime, Fogo de Chão, Earls, Sweet Paris, Culaccino, Iconix Fitness and Hooky Entertainment. Amazon opened its first office tower at Nashville Yards in 2021.

May 15, 2025

Acquisitions Multifamily Southeast Tennessee

Tishman Speyer Buys Apartment Tower in Midtown Nashville for $112M

by John Nelson May 14, 2025

NASHVILLE, TENN. — Tishman Speyer has acquired 2010 West End Avenue, a 25-story apartment tower in Midtown Nashville, for $112 million. CA Ventures developed the 358-unit property in 2021. Tishman Speyer’s acquisition was financed in part by a $67.2 million loan from Corebridge. Situated within walking distance to Vanderbilt University, 2010 West End Avenue includes studio, one- and two-bedroom apartments, as well as 6,000 square feet of ground-floor retail space. Amenities include a rooftop pool, hot tub, fitness center and dog run. The asset is Tishman Speyer’s second acquisition in Nashville. In 2023, the firm purchased 133 Korean Veterans Boulevard, a 1.2-acre property in SoBro, before selling a portion of that site to T2 Hospitality.

May 14, 2025

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