Avanti Residential Expands Portfolio with Class A Acquisition in Nashville
Avanti Residential, a prominent player in the nationwide multifamily investment and operations sector, has made a strategic acquisition that marks its auspicious entry into Nashville’s burgeoning real estate landscape. The property in question, The Residence at Old Hickory Lake, is a Class A multifamily gem with 116 units that offer a luxurious living experience.
Located in the scenic Nashville metropolitan area, The Residence at Old Hickory Lake was completed in 2018, and it brings with it a multitude of top-tier amenities. The options for potential residents vary from 1-bedroom to 3-bedroom layouts, all boasting 9-foot ceilings, expansive floor-to-ceiling windows, and gourmet kitchens that would pique the interest of culinarians and entertainers alike. Additionally, this lakefront community provides residents with a resort-inspired saltwater pool, a cozy fire pit area, and a 24-hour fitness center.
Aligning with Avanti’s long-term vision, Christian Garner, the President and CEO of Avanti Residential, shared his perspective on the acquisition, “Nashville’s dynamic real estate market aligns perfectly with our company’s vision for sustainable growth. We’re committed to enhancing the greater Nashville area with modern, well-managed apartment communities that meet the needs of both new and existing residents.”
Avanti’s foresight is evident as the property, nestled at 2401 Lakeshore Drive, isn’t just an abode but a lifestyle choice. Residents of The Residence at Old Hickory Lake find themselves in the heartbeat of the Old Hickory neighborhood – a nexus of the region’s technological, athletic, musical, and entertainment progressions.
Peter Partipilo, Director of Acquisitions for Avanti, expressed confidence in the property’s potential. “We believe The Residence at Old Hickory Lake is well-positioned to outperform the local market into the foreseeable future. Given the solid area fundamentals and continuing absorption of the region’s recently delivered new multifamily product, we expect an opportunity to expand further in the Nashville market.”
The transition from the previous owner, Arnold Companies, was smooth, an aspect Ben Arnold of Arnold Companies attested to: “Avanti is a pleasure to work with. We wish them well with their new acquisition.”
As Avanti Residential embarks on increasingly significant expansions, their portfolio now spanning over 9,000 apartment units across eight states, the Southeast United States stands as a focal point of growth. With eyes set on continued regional acquisitions, Avanti is standing by its promise, catering to both institutional and private capital partners, helping to forge ahead in creating communities that affirm their leadership and commitment to innovation in the multifamily apartment industry.