Philly Investor Closes On Historic Downtown Apartments
Stoltz Real Estate Partners of Philadelphia completed its acquisition of The Stahlman and The Lofts, at 211 Union St and 160 Second Ave N, respectively. The purchase price was unspecified, but the Nashville Business Journal reports the investor took out $22.4M in loans to do the deals. The seller was Nashville-based The Mathews Co.
The Stahlman includes 142 units in 12 stories. The building dates back to 1907, when it was developed as an office building by newspaper publisher Edward Stahlman, and is considered one of the city's early skyscrapers. In the early 21st century, it was redeveloped into residential space. The Lofts is a 32-unit property above The Spaghetti Factory. [NBJ]