TruAmerica Multifamily announced it has acquired Charleston Hall, a 194-unit community in the Nashville MSA in an off-market transaction. Located in a high-growth Southeast market, the institutional-quality asset is slated for continued improvements that are designed to add value to the asset. The property was acquired in partnership with Spoke Real Estate Capital.
“The Nashville market was attractive to us due to a number of positive economic growth drivers that are subsequently producing increased demand for rental housing,” said Matt Ferrari, head of acquisitions and co-CIO at TruAmerica. “We continue to expand our presence in the Southeast to more than 40 properties, and this acquisition is our third multifamily asset in the Nashville MSA.”
The Charleston Hall community has access to key employment and entertainment destinations. The site at 351 Sam Ridley Parkway E. in Smyrna, Tenn., is approximately 30 minutes from downtown Nashville and near Percy Priest
