June 10, 2016 Comments Off on Steadfast Sets High-Water Mark in $110M MF Acquisition Views: 392 California News, Orange County, West

Steadfast Sets High-Water Mark in $110M MF Acquisition

Irvine, CA-based Steadfast Apartment REIT acquired Landings of Brentwood, a 724-unit apartment property in Nashville, TN for $110 million. The seller was a joint-venture between The Blackstone Group’s LivCor real estate group and Canada’s Venterra Realty.

The 117-acre property, which includes 41 garden-style residential buildings, sets a high-water mark for a multifamily deal in the market. Constructed in three phases between 1986 and 1989, the Landings of Brentwood offers one-and two-bedroom floor plans that average 959 square feet and is currently 96% occupied.

Steadfast’s Ella Shaw Neyland says the Landings of Brentwood is a “highly desirable community with tremendous value enhancement potential, which aligns with Steadfast’s strategy.”

The Landings of Brentwood is Steadfast’s fourth acquisition in Tennessee. HFF’s Jason Nettles represented the seller.

Read More at Orange County Business Journal

Connect with Steadfast Apartment REIT’s Neyland

Connect with HFF’s Nettles

Tags: ,

Comments are closed.