Thursday, August 13, 2015

Passco Companies Acquires 598-Unit Class-A Multifamily Community in Nashville, TN for $93.5 Million


The Lexington Apartments, Bellevue submaket, Nashville, TN


Colin Gillis
NASHVILLE, TN  – Passco Companies, LLC has acquired The Lexington Apartments, a 598-unit, Class-A garden-style multifamily community located in the Bellevue submarket of Nashville, Tennessee for $93.5 million, according to Colin Gillis, Passco Companies’ Director of Acquisitions, Southeast.

“Nashville is one of the fastest growing cities in the country, boasting population and job growth numbers that have outperformed the national average each year post-recession,” explained Gillis. “The Lexington Apartments is a solid acquisition for Passco.”

According to Gillis, the Nashville market is directly aligned with Passco’s current acquisition strategy, through which the company focuses on identifying markets that are poised for significant growth.

The Lexington is located in Bellevue, one of the most attractive submarkets of Nashville, Gillis added, and the closest submarket to the area’s vast urban employment centers.


Vince Lefler of JLL’s Nashville office facilitated the sale of The Lexington Apartments.


 For a complete copy of the company’s news release, please contact:

Corynne Randel / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
      

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