Atlanta-based multifamily investment and management firm Cortland Partners has paid about $128.6 million for a recently opened apartment building located in The Nations, according to a Davidson County Register of Deeds document.
The address of what is now called Cortland at The Nations (it had been known as Broadstone Nations upon opening) is 4731 Centennial Blvd.
The seller was Phoenix-based development company Alliance Residential Co.
Cortland at The Nations offers 342 units. As such, the specific sales price of $128,625,000 is the equivalent of about $376,096 per unit, which ranks among the more significant such figures for recent deals involving for-rent residential product in Davidson County.
The transaction follows an early February deal that saw Nashville-based real estate investor, distiller and entrepreneur Darek Bell pay $2.85 million for a 7,000-square-foot commercial building located adjacent to the apartment structure (read here).
Of note, Cortland paid $155 million in September 2021 for what is now called Cortland Bellevue (read here). That was the company’s second area purchase at the time, with Cortland having acquired Accent Bellevue in 2017 in a quitclaim deed deal for which no dollar figure is recorded by the Davidson County Register of Deeds.
Capitol One Bank has provided a loan of $70.43 million for the most recent deal, according to a Metro document, with the Post unable to determine if brokers were involved in the transaction.
The Nations property sits within Metro Councilmember Mary Carolyn Roberts' District 20.