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May 10, 2022 11:45 AM

�ǿ�����app���� announces the $70.5 million sale of Reserve at Oakleigh—a 246-unit, 2017-built multifamily community located in Antioch, Tennessee. �ǿ�����app���� Executive Managing Directors Vincent Lefler and Tarek El Gammal represented the seller, , a New York-based owner operator, in the sale to , an Austin, TX-based real estate group. Vice Chairman Tip Strickland advised GVA on the financing package provided by Rialto Capital. �ǿ�����app���� helped to establish this new borrower-lender relationship and both parties are very excited about the strong value-add potential that exist. Rialto was able to offer aggressive floating-rate bridge loan terms as a result of the favorable sponsorship, market and collateral. At the time of the sale, Reserve at Oakleigh’s occupancy was at 93%.

Antioch is one of Nashville’s fastest-growing suburbs with over 40,000 new residents added since 2000, according to Esri analytics. This growth coincides with recent job announcements and numerous mixed-use developments, both of which are bringing a resurgence to the community.

“The demand for space in Antioch is evident with its location only 15-20 minutes from primary job centers and top lifestyle amenities. These factors make the neighborhood one of Nashville’s most sought-after areas,�� said Lefler.

According to �ǿ�����app���� Research, beginning in 2017, delivery of new, Class A communities created new, higher rent thresholds in the area, raising them to $1600+ per month. Skyrocketing multifamily fundamentals coupled with Antioch’s job and population growth present an opportunity for new ownership to close the rent gap through management efficiencies and a unit upgrade program.

About �ǿ�����app����
�ǿ�����app���� Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“�ǿ�����app������), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. �ǿ�����app����’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, �ǿ�����app���� provides superior service to clients across the industry spectrum. �ǿ�����app���� generated revenues of nearly $3.1 billion for the twelve months ending March 31, 2022. �ǿ�����app����’s company-owned offices, together with its business partners, operate from approximately 170 offices with 6,300 professionals around the world. To learn more, visit nmrk.com or follow .

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