DALLAS, December 14, 2021 / PRNewswire / – Lion Real Estate Group, LLC (“LREG”), a real estate investment and asset management firm focused on acquiring value-added and opportunistic multi-family properties, today announced two transactions distinct in the Nashville metropolitan statistical region (MSA).
LREG acquired Brentwood Station, an asset of 196 units adjacent to the rapid growth Brentwood sub-market, for $ 30.25 million. The property was obtained at a capitalization rate of 4.5% through LREG Multifamily Fund II LP, a $ 250 million private equity fund managed by the company to acquire value-added multi-family buildings in the South-East, Texas, and Intermontagne West Regions.
Brentwood Station offers a mix of one and two bedroom units, including two bedroom townhouses, which range from 750 to 1,140 square feet. Upscale on-site amenities include a swimming pool, pet park, fire pit, playground, business center, and fitness center. Brentwood Station also offers convenient access to I-65, Nashville International airport and Vanderbilt University. Brett Kingman of Walker & Dunlop was the selling broker in the transaction.
“The US multi-family housing market remains strong, produces high risk-adjusted returns, and continues to exhibit lower occupancy and rent volatility than other real asset classes,” said Jeff Weller, Co-Founder and Director general of LREG. “Our network of investors, brokers and industry professionals allows us to capture this momentum by identifying attractive investment opportunities across the country. We look forward to adding value to Brentwood Station through refinancing and our value-added program and have a strong belief in the Nashville the market is moving forward. “
LREG also completed the sale of The Ellington, an apartment complex located three miles southeast of Nashville descending nucleus, for $ 47 million. Originally acquired for $ 30.3 million like the first of the company Nashville syndication agreement. The 389-unit property offers a mix of one, two and three bedroom apartments, each between 750 and 1,300 square feet, as well as a fitness center, two resort-style pools, a clubhouse and a playground for its inhabitants. Owned by LREG, The Ellington recently completed a $ 5.8 million renovation program to create housing. Brett Kingman of Walker & Dunlop was the selling broker in the transaction.
“The successful divestiture of The Ellington is testament to the effectiveness of our business plan,” added Mory Barak, co-founder and CEO of LREG. “We have combined our knowledge of local economic trends and multi-family fundamentals to ensure that residents and investors see positive returns on their respective investments. “
The population of the Nashville MSA has grown by 21% over the past decade, accounting for most Tennessee expansion, according to the 2020 US Census. Job growth also increased by 26% during the same period, which Nashville the second fastest growing metropolitan economy in the country, according to the city’s Regional Economic Development Guide. Among the largest companies having their head office in Nashville are Bridgestone Americas, Dollar General and HCA Healthcare. Other large employers include Vanderbilt University Medical Center, Nissan North America and Amazon.
LREG now has eight properties in the Nashville area, representing more than 1,600 residential units.
About the Lion real estate group
Lion Real Estate Group is a real estate investment company founded in 2007 by Jeff Weller and Mory Barak and based in Dallas, Texas. Lion Real Estate Group is focused on acquiring value-added and opportunistic multi-family and creative office buildings by leveraging the experience of its leaders to create value for investors through renovation, repositioning, a better management and optimal capitalization of its properties. The company currently owns and operates approximately more than $ 1.2 billion of real estate, which includes 6,121 residential units, 29 multi-family properties and two office buildings in 10 states.
LREG Multifamily Fund II LP is a private equity fund focused on the acquisition between $ 700 million and $ 1 billion value-added real estate in the next 24 months in the South-East, Texas, and Intermontagne West Regions.
For more information visit www.lionreg.com.
Mickey mandelbaum, Prosek Partners
Aidan O’Connor, Prosek Partners
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SOURCE Lion Real Estate Group, LLC