CBRE Announces $78.5 Million Sale of 226-Unit Luxury Multifamily Property in Nashville’s SoBro Neighborhood

CBRE has arranged the sale of Broadstone SoBro, a new 226-unit multifamily community located at 800 4th Avenue South in Nashville’s SoBro neighborhood, to AND Asset Management for $78.5 million. The property was +90% occupied at the time of sale.

CBRE’s Brett Carr, David Smithwick and Shea Campbell represented the undisclosed seller in the transaction.

Completed in 2022, Broadstone SoBro is an eight-story, podium-structure building. The first three floors include the parking structure, and the top five floors are 100% residential with studio, one-, and two-bedroom floorplans averaging 780 sq. ft. The units feature two finish packages that offer large kitchen islands, wine refrigerators, stainless steel appliances, washers and dryers, soaking tubs, quartz countertops, USB outlets, electric entry locks, and views of Downtown Nashville. Community amenities include a champagne bar-inspired sky lounge, saltwater pool, fireplace with lounge seating, private offices and coworking space, and a 24/7 fitness center and package concierge system.

“The seller developed a beautiful, core investment quality property that has resonated with its resident demographic and leased up quickly,” said CBREs Carr. “Broadstone SoBro demonstrated the pent-up demand for luxury product at a significant discount to existing and future supply in the area, resulting in a successful exit for the seller and a sound investment for the new owner.”

Situated on the corner of 4th Avenue and Ash Street just north of I-40, the property offers quick access to Nashville’s prominent universities, medical employment corridor, and globally recognized employers, as well as numerous restaurants, entertainment venues, and retail amenities.