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Nashville, TN— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed a 1031 Exchange of Nashville Edge Apartments into two industrial properties located at 4027 Murfreesboro Pike, Antioch, TN and 2818 Whites Creek Pike, Nashville, TN. The industrial properties sold for a combined total of nearly $7 million. Associate Austin Tomaiko and Associate Vice President Austin Graham represented the buyer, while Senior Associate Jay Reeves and Vice President Harrison Auerbach represented both sellers of the upleg assets.
The 1031 Exchange buyer, a Nashville private owner, wanted to capitalize on the market and exchange into an income-producing asset that increased cash flow and required less management than multifamily. Nashville Edge Apartments originally sold in late 2022. From there, Tomaiko and Graham used Matthews™ proprietary shared database to present potential upleg investments.
“Through our extensive database, we could plug in the seller’s buying criteria and show the seller hundreds of options available for the exchange,” said Tomaiko. “The database made identifying the upleg for the 1031 Exchange easier than ever, and ultimately found that Reeves and Auerbach’s two industrial deals were the best fit for our client.”
“Our platform, culture, and process played a monumental role in the success of these transactions,” said Reeves.
Matthews Real Estate Investments 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. Based out of Nashville, TN, and strategically positioned with over 500 agents and support staff in 15+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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