Lion Real Estate Group, LLC (“LREG”), a Dallas-headquartered real estate investment and asset management firm focused on acquiring value-add and opportunistic multifamily properties, acquired Bradford Woods, a 312-unit multifamily property in Nashville, Tennessee for an undisclosed price. They will re-brand the property as “The Grove Brentwood” and implement value-add techniques by utilizing their vertically integrated team.
The latest purchase increases the company’s stake in the Nashville market and brings its multifamily portfolio to 26 communities across five states.
Ben Kriegsman, Lion Real Estate Group’s Director of Acquisitions, said, “The Grove Brentwood marks another strategic acquisition for Lion in Nashville and is our fourth acquisition in our current investment vehicle. The property is immediately next door to another community we own, called The Brentwood. The Grove will see a complete renovation program, inside and out. We are planning to completely overhaul the leasing office/clubhouse, gym, pool area, and all the other on-site amenities. Each of the unit interiors will undergo premium renovations to include stainless-steel appliances, quartz countertops, upgraded lighting, along with other interior upgrades.”
The area is surrounded by parks, as well as popular shopping, dining, and entertainment options. Ideal proximity to many lifestyles needs adds to the appeal of renting at The Grove Brentwood. It’s a quick commute to downtown, Belmont University, Nashville International Airport, and TriStar Southern Hills Medical Center via nearby Interstate 65 and Highway 41A.
Jeff Weller, Lion Co-CEO, adds, “We plan to continue acquiring value-add communities in the Nashville MSA, as well as our other target markets of Atlanta, Dallas-Fort-Worth, Charlotte, Raleigh-Durham, Phoenix, Austin, and others.” Mory Barak, Lion’s other Co-CEO goes on to say that the firm, “has staffed up accordingly to manage optimal operations and returns for investors as the portfolio grows.”
Lion successfully closed on this acquisition by harnessing close relationships in the market and by securing the assumption of a Fannie Mae loan at a strong leverage point. Both of which attest that the firm is led by respected veterans who value reputation and stick to a niche sector conservatively. Walker & Dunlop’s Nashville office brokered the transaction.
