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.