NASHVILLE, TN—Capstone Companies has brokered the $4,150,000 sale of a multifamily development project in Nashville, TN. The 8.76-acre site is located at 839 West Trinity Lane and will be the future site of 79 three-story, Class A townhomes. The property, which is set some 180 feet above the Cumberland, will overlook the river with unparalleled views of Downtown Nashville and feature 3-bedroom and 4-bedroom townhomes.
Capstone Senior Advisor, Austin Heithcock, facilitated the off-market sale alongside Capstone Partner, Adam Klenk, Investment Sales Advisors, Jordan Arand and Josh White, and Associate, Blake Wiser, on behalf of the seller, Rhythm Development.
The buyer, Pivotal Residential, purchased the property on June 30, 2023 and will break ground on the development in early July. Pivotal Residential is a Birmingham-based private real-estate investment firm focusing on community development within the high-end, residential space throughout the Southeast and Mid‐Atlantic, with active projects in Nashville, Dallas‐Fort Worth, and Richmond.
“The economic and development momentum throughout the West Trinity corridor continues to provide a compelling investment thesis for residential development, with a location that’s less than 10 minutes from the heart of Downtown Nashville,” said Michael Ramsey, Managing Principal of Pivotal Residential. “We would like to thank all of our stakeholders including Metro Nashville and Councilmember Toombs, as well as our lending and equity partners, for their commitments to and investments in our project.”
The development site is located in close proximity to all major employers, retail, and commercial services in Nashville and allows future residents access to major Nashville destinations within 15 minutes. It is also within a few minutes’ drive of the new Oracle corporate campus, The Landings at River North, and Nissan Stadium, which is being reconstructed in their current parking lot. West Trinity Lane is electric, with construction underway on over 1,000 multifamily units.
Media Contact:
Jaclyn Chapman
Director of Strategic Marketing Communications
jaclyn@capstone-companies.com
