Last phase of Werthan Lofts will convert to condos

Nearly 100 rental units at Germantown's Werthan Lofts will begin to convert to condominiums in early 2014, marking the first time in years that a large-scale block of for-purchase residential product has hit the Nashville market.

Mark Deutschmann, president of Werthan Lofts developer Core Development Services, said mid-January Werthan 5 Lofts LLC will buy 98 units at the North Nashville complex from the current ownership group, which includes some members of the buyership entity. Deutschmann, who is involved in both groups, said the agreed upon purchase price is $13.5 million.

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