Cushman & Wakefield’s Southeast Multifamily Advisory Group has arranged thesale of ALARA Cool Springs, a 386-unit apartment community located in Franklin, Tennessee. Robert Stickel, Chris Spain, Alex Brown and Brad Boston of Cushman & Wakefield represented the seller, American Realty Advisors, in the transaction. IMT Capital acquired the property.
“ALARA Cool Springs is a top-tier asset with an outstanding amenity package in an irreplaceable setting,” Stickel said. “It benefits from direct access to premier local retail and job centers in Nashville’s desirable suburban corporate submarket. The institutionallyowned and well-maintained property garnered significant investor interest throughout the marketing process, showcasing Nashville’s unique ability to attract high-quality real estate investors.”
ALARA Cool Springs, built in 1997, is located on Gillespie Drive in the epicenter of the Cool Springs corporate submarket. Residents benefit from convenient access to Interstate 65, which enables them to quickly reach downtown Nashville. Amenities include a resort-style swimming pool, luxurious outdoor lounge and fireplace, fitness facility, nature trails, and a wide-range of walkable retail and dining options. Known for its high-performing schools, pristine recreational facilities and strong business climate, the Williamson County area has benefitted from consistent investment and national attention.
Cushman & Wakefield’s Southeast Multifamily Advisory Group is the most active firm in the region, with the No. 1 market share based on transactions reported to CoStar. The group has closed $3.1 billion in sales volume in 2017, totaling over 185 deals and more than 37,000 units. On average, the team has experienced 63 percent sales growth within the last five years. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.
About American Realty Advisors
With more than $8.1 billion in assets under management, American Realty Advisors is a leading provider of commercial real estate investment management services. For over 29 years, ARA has managed capital for institutional investors utilizing core and value-added commingled funds and separate accounts. ARA acquires assets directly or provides equity, preferred equity, mezzanine debt, debt, and hybrid debt to primary investors and developers operating throughout the United States for office, industrial, multi-family, and retail properties. More information regarding ARA can be found at www.aracapital.com.
About IMT Capital
IMT Capital, LLC is a private real estate investment firm based in Los Angeles, CA, with offices in San Francisco, CA, Miami, FL, and Austin, TX. The company’s principals have made investments in excess of $4 billion in value since 1992. The company is a specialized manager concentrating in multifamily opportunities in major U.S. markets. Additional information on IMT Capital can be obtained by going to www.imtcapital.com.
About IMT Residential
IMT Residential is a Los Angeles based privately held full-service operator of multi-family residential communities. The company currently manages over 20,000 residential units and 60+ communities in seven U.S. states. Founded in 1992, IMT Residential has been recognized on the lists of Top 50 multifamily firms nationally by the National Multi-Housing Council (NMHC) and Multi-Family Executive Magazine and is also recognized by the United States Green Building Council for their LEED for Homes construction projects. Additional information on IMT Residential can be found at www.imtresidential.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.