AND Asset Management recently acquired the Broadstone SoBro apartment complex for approximately $350,000 per unit. At the time of purchase, the property boasted a high occupancy rate of over 90%. In October 2022, Alliance Residential Co. opened this eight-story podium-style building.
Broadstone SoBro offers residents luxurious amenities such as a champagne bar-inspired sky lounge, saltwater pool, cozy fireplace with lounge seating, private offices and coworking space options, and a state-of-the-art fitness center with a package concierge system.
The seller was represented by CBRE’s Brett Carr and his team. According to Carr: “Broadstone SoBro showcased strong demand for upscale housing at an attractive price compared to current and future developments in the area. This resulted in a successful sale for the seller and an excellent investment opportunity for AND Asset Management.”
Conveniently located on 4th Avenue and Ash Street just north of I-40,the property boasts prime positioning within Nashville’s bustling market.
This article was originally published on Connect CRE.
