Atlas art

Atlas Germantown

Germantown apartment building Atlas Germantown has sold for $33.6 million, to a West Coast company that is seemingly new to the market.

Located at 200 Madison St. and sitting on 0.8 acres near the Christie Cookie building, the five-story building offers 101 apartments. Its new owner is G.W. Williams Company, which is based in San Mateo, California. Founded in 1923, the family-owned company bills itself as offering commercial, industrial and residential real estate holdings located primarily in the Western United States.

The seller was an LLC affiliated with Charlotte-based Delray Ventures. That company co-developed the site with Brentwood-based Grove Park Land Co. and opened Atlas Germantown in 2018.

The deal is the equivalent of about $332,673 per unit, which is close to the record, about $340,000, for a transaction involving a local urban apartment building. Maryland-based Walker and Dunlop seemingly brokered the deal.

Charlotte-based Cline Design was the architect, with Brentwood-based b3studio having provided design consulting. Nashville-based Elmington Capital Group manages the building.

My position with Nashville Post has evolved since 2000 when I began work with the now-defunct The City Paper. TCP became a Post sister pub in 2008 (when I began some Post work) and folded in 2013. I have worked mainly with the Post since late 2011.

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