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| Sean Moghavem |
Archway Equities LLC., an affiliated
entity of Archway Holdings, sold the assets to an affiliate of Bond Companies
in an off-market transaction via an unsolicited offer.
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 Q2 report, South Nashville's
cumulative growth has been strong, and rents are roughly 50% more expensive now
than they were in 2010. This level of growth is outperforming the metro-wide
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 Moghavem,
President of Archway Equities.
 |
| Ian Anderson |
“We
were able to exceed our business plan expectations in less than half our
originally assumed hold period, resulting in a much stronger returns, even
considering COVID.
"This is only due to Nashville’s dynamism and its ability to attract strong employers in its market.”
"This is only due to Nashville’s dynamism and its ability to attract strong employers in its market.”
The JLL Capital Markets
team was led by Senior Directors Ian Anderson and Peter Chacon.
“Despite the hurdles due to the pandemic, investor appetite for
Nashville multi-housing remains strong,” Chacon said. “Buyers are confident in
Nashville's long-term outlook and the market's ability to continue posting in
the nation's top 10 rent-growth cities.”
JLL Capital Markets is a full-service global provider of
capital solutions for real estate investors and occupiers.
The
firm's in-depth local market and global investor knowledge delivers the
best-in-class solutions for clients — whether investment advisory, debt
placement, equity placement or a recapitalization.
 |
| Peter Chacon |
The firm has more than 3,700 Capital Markets
specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please
visit our newsroom.
Archway Equities LLC. (“Archway”) is a privately held real estate investment group based in Beverly Hills, California. Archway through its affiliated and predecessor entities has been acquiring commercial real estate mainly in California, Arizona and Texas since 1974.
Archway is a vertically integrated company with expertise in various facets of real estate investment, management, acquisition, finance, leasing, redevelopment and entitlement operations across a variety of asset types, including multifamily, medical office, traditional office/creative office, industrial and land development.
Contact:
Kimberly
Steele
JLL Senior Associate
Public Relations
Phone: +1 713 852 3420
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