NASHVILLE, TN - San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the Springfield Apartments in Murfreesboro, Tennessee in the Nashville metro area. The transaction closed on January 16th and was the firm's second acquisition of the year.
The 16-building apartment community, located at 3726 Manson Pike, features units averaging 1,013 square feet with amenities including smart home technology, private balconies, and extra-large closets. Community amenities include a dog park, gaming, saltwater pool, hammock garden, and an entertainment pub.
"Springfield Apartments provided an excellent opportunity to buy a brand-new property in a great submarket," said David Nelson, managing director of acquisitions for Hamilton Zanze. "We are confident that the property's contemporary vintage, amenity package, and prime location in Murfreesboro will provide our residents with the quality of life desired in Nashville's urban core. We are excited about our continued growth in this region."
Built in 2018, the 270-unit property was a 97% occupied at the time of purchase. HZ plans to invest in environmentally-friendly upgrades, and property management responsibilities have been transferred to the Denver-based affiliate company Mission Rock Residential.
With this latest acquisition, Hamilton Zanze now owns and operates four properties in the Nashville-Davidson-Murfreesboro market, including Rivertop Apartments, Post Ridge Apartments, and 865 Bellevue. The property is located 30 miles from Downtown Nashville, which is home to numerous music venues, the State Capitol, options for nightlife, major employers, and professional sports venues. The famed Honky Tonk Highway is located in Downtown Nashville and features a row of restaurants and live music venues every night.
Source: Hamilton Zanze