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Former Nashville Auto Dealership Sold for $5M

Berry Hill Apartment Complex to be Constructed
October 30, 2012
Horsepower Joint Venture sold the former Lincoln-Mercury dealership located at 2300 Franklin Pike in Nashville, TN to Bluerock Real Estate and Stonehenge DCM for $5 million.

The new owners are razing the vacant retail structure to make way for the construction of the Berry Hill complex, a 266-unit, mid-rise multifamily community. These apartments are estimated to total 194,273 square feet, with a projected development cost of $33.7 million. Construction is tentatively scheduled for completion mid-2014.

Both parties were represented in-house.

Please see CoStar COMPS #2581700 for more information on this transaction.
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