Security Properties Bets Big On Nashville Multifamily
Security Properties ponied up more than $34M for the Opus 29 apartment complex at 301 29th Ave N, near Centennial Park, the Seattle-based company's first deal in Nashville. Security Properties managing director Ed McGovern, tells us Nashville has everything going for it now, as a business and cultural center in the fastest-growing region of the country, the South.
"An attractive cost of living combined with an attractive business environment is buoyed by two well-established demand drivers that we find attractive, for their resilience and for the size of the demographic segments they service: healthcare and higher education," Ed says. In a separate deal, Security Properties is paying more than $19M for Note 16, an 86-unit complex at 1226 16th Ave S. Stonehenge Real Estate Group developed both properties.