Natixis Corporate & Investment Banking originated a $76.825 million, floating-rate financing to entities associated with Denholtz Properties to finance the acquisition of Overall Creek, a 384-unit, Class A multifamily property located in Murfreesboro, Tennessee, a suburb of Nashville.
The property was constructed in 2020 and is a three-story, luxury, garden style apartment consisting of 384 market rate units with various floor plans ranging from one, two and three bedrooms, with an average unit size of 1,057 square feet.
The property features an amenity package that includes a well-equipped fitness center, a resort-style pool, a club house, a courtyard, outdoor gas grills, fire-pit, dog park, car wash, a hydro-massage room, tanning bed, business center and on-site maintenance staff.
The property is located in close proximity to the intersection of I-840 and I-24, providing access to downtown Nashville in less than 30 minutes.
The Nashville metro area population increased over 20% since 2010, according the 2020 U.S. Census.
Denholtz Properties is a privately held, vertically integrated commercial real estate investment and development company with a diversified portfolio of assets in strategic markets. Based in Red Bank, New Jersey with a regional headquarters in Orlando, Florida, the firm specialize in the acquisition and development of ground-up multifamily, industrial/flex and office properties.
The financing was arranged by Jon Mikula, Michael Klein, Ryan Carroll and Salvatore Buzzerio of JLL’s New Jersey office.