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CapStack Acquires 475-Unit Multifamily Portfolio in Nashville

Investment Firm Plans Extensive Renovations for Garden-Style Complexes
January 26, 2018
CapStack Partners, a NY-based investment bank and advisor focused on the real estate, hospitality, infrastructure and energy industries, acquired a 475-unit, three-property multifamily portfolio in Nashville and Madison, TN from Lennox Companies.

The apartment buildings included in the transaction were The Vistas, a 205-unit complex located at 5319 Nolensville Pike in Nashville; Fawnwood Apartments, a 158-unit property at 321 Walton Lane, also in Nashville; and the 112-unit Archwood Meadows, located at 110 Archwood Place in Madison.

This transaction marks the buyer’s first acquisition within the scope of its investment mandate to acquire value-add and opportunistic multifamily assets across the Southeast. CapStack plans to extensively renovate the assets.

David Blatt, chief executive officer of CapStack, said, “This acquisition directly aligns with our investment parameters. We intend to reposition the portfolio into high-quality workforce housing to capitalize on the strong demand for this type of product in Nashville.”

CapStack has tapped MACC Venture Partners to manage the three, garden-style complexes.

Please see CoStar COMPS #4116453 for more information on this transaction.
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