Archway Equities, an affiliated entity of Archway Holdings, has sold a two-property apartment portfolio in Nashville’s thriving South submarket to an affiliate of Bond Companies in an off-market transaction via an unsolicited offer.
The sales price was $41.2 million.
The portfolio comprises the Axis at 307 Glengarry Dr. and Mosaic at 1019 Patricia Dr. Located approximately 10 minutes from downtown, the portfolio’s position along Murfreesboro Pike provides residents with fast access to Nashville’s largest employment and entertainment nodes.
In addition, according to CoStar’s recent second quarter report, South Nashville’s cumulative growth has been strong, and rents are roughly 50 percent more expensive now than they were in 2010. This level of growth is outperforming the metrowide figure by nearly 15 percentage points.
“We are strong believers in the fundamentals of Nashville and are committed to increasing our presence there,” said Sean Mog
