European firm begins third U.S. residential project

Düsseldorf, Germany-based Trei Real Estate GmbH has commenced construction of its third residential project in the United States.

The property is located in Wedgewood-Houston, a neighborhood in central Nashville, and represents Trei’s first development in Tennessee.

On a plot of land of approximately 10,000 square meters (108,000 square feet), three- and four-story buildings will include 221 residential units totaling approximately 16,100 square meters (173,300 square feet). The investment volume totals €53 million ($63 million). Construction started in July 2021 and completion is expected in 2023.

Pepijn Morshuis, CEO of Trei Real Estate, commented, “Along with Poland and Germany, the United States is an important market within our residential real estate strategy. Diversifying across several countries and continents is a significant part of our strategy. Overall, we currently have five residential projects in a volume of €320 million [$377 million] un