Project Description

Amplify On Main

Amplify On Main

usc student housing

Mix of newly constructed flats & townhome units in an eclectic and gentrifying neighborhood of Nashville, TN.

VALUE ADD TO CORE | MULTIFAMILY

Amplify On Main

Project Profile

  • Investment Type: Traditional flats & townhome-style apartments
  • Property Size: 74 Units
  • Purchase Price: $14,100,000
  • Initial Equity Investment: $4,650,000

Status

Sold

Investment Highlights

  • Purchase: Tax-efficient 1031 exchange; purchased at an attractive cap-rate due to minor lease-up remaining.
  • Gentrifying Location: Champion accurately predicted the increased demand for assets in Nashville as the market transformed from a secondary mid-5.00% capitalization market to a primary market fetching 4.00% capitalization rate values.
  • Sophisticated Sponsor: The property was severely damaged and destabilized by a tornado disaster in 2019. Reconstruction and stabilization efforts were completed in 2021 on time and under budget, allowing for successful and profitable sale.

Business Plan

Buy newly constructed community in a gentrifying market with long-term debt at an attractive cap-rate; implement operational improvements; hold for long-term investment benefiting from rent growth, increased cash flow, and cap-rate suppression in a rapidly expanding Nashville market.

usc student housing