CBRE Arranges $14.9M Sale of Eastland Apartment Community in Nashville
NASHVILLE, TENN. — CBRE has arranged the $14.9 million sale of The Eastland, a 49-unit apartment community in Nashville. A Virginia-based investor, Cherner Development Group, purchased the property. Brett Carr of CBRE represented the seller, Dallas-based investor Lion Real Estate Group, in the transaction.
The Eastland is a five-story multifamily building that offers one- and two-bedroom floorplans. The average unit size is 571 square feet. Completed in 2017, The Eastland features ground floor retail space. Community amenities include a fitness center, lounge and onsite maintenance. The building was 96 percent occupied at the time of sale.
Located at 1035 W. Eastland Ave., the community is situated 10.1 miles from Nashville International Airport and 2.8 miles from downtown Nashville.