Cantor Fitzgerald L.P. announced the sale of a 326-unit, garden-style apartment community in Nashville, Tennessee.
The sale was facilitated on behalf of investors in CF Bellevue Multifamily DST, resulting in a total return of 156% of their aggregate original investment and an internal rate of return of 15% over the approximately three-year hold period, according to Cantor Fitzgerald.
865 Bellevue Apartments includes spacious units and community amenities, including a clubhouse, fitness center, two swimming pools and a dog park. The apartment community is less than one mile from One Bellevue Place, a mixed-use development containing retail, restaurants and entertainment.
“We acquired 865 Bellevue Apartments in March 2019. Over the past three years, which included navigating the challenges of the COVID-19 pandemic, we successfully executed the business plan to enhance the value of this well-located property by, upgrading select unit interiors and enhancing community amenities,” said Matt Keefer, managing director and head of multifamily acquisitions at Cantor Fitzgerald Asset Management.
The property is within the highway 70 and I-40 corridor, approximately 14 miles from downtown Nashville.
As of Dec. 8, 2022, Cantor Fitzgerald’s real estate investment portfolio comprises over 7,900 stabilized multifamily units plus over 2,500 units under development, and over 8.1 million square feet of office, industrial, and retail space across 148 properties. For the 12-month period ending Sept. 30, 2022, Cantor Fitzgerald participated in more than $155 billion of total real estate transactions.
For more Cantor Fitzgerald news, please visit their directory page.