Matthews™ Brokers $14M Sale of Micro-Unit Apartment Building

Nashville, TN – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of Sohana Apartments, located at 311 W Trinity Lane, Nashville, TN. The property is a 4-Star Complex and features 111,500 square feet. Associate Austin Tomaiko and Senior Associate Austin Graham brokered the transaction.

 

Matthews™ represented the seller, a merchant developer who aimed to take advantage of the high value in the multifamily market. The seller received a great price point, closing at 100 percent of the list price.

 

“Our client was interested in a quick and easy transaction,” Tomaiko said. “Using the Matthews™ proprietary shared database, we sourced an aggressive, qualified buyer.”

 

The buyer was a national syndication group interested in deploying out-of-state capital into the thriving Nashville marketplace. The Nashville multifamily market held steady throughout 2021, with vacancy rates recording 4.4 percent in Q3 2021. This caused national and international buyers to take notice and invest capital in search of higher yields.

 

“The buyer was eager to expand their presence in the area and able to pay full asking price, making them the ideal candidate for this investment,” Graham said. “Our client was satisfied with the outcome, and the buyer received a great asset.”

 

For more information on this listing or to contact Austin Tomaiko and Austin Graham, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.