Capstone Apartment Partners is pleased to present Axis & Mosaic Apartments, a two-property portfolio consisting of 363 units in Nashville, Tennessee. Located in one of the fastest growing Nashville submarkets, the assets are poised to benefit from their immediate proximity to downtown and Wedgewood-Houston, convenient interstate access, and adjacency to Nashville International Airport. Rents in the submarket have grown 20% year over year, the highest percentage rent growth of any Nashville submarket over that period. Vacancy in the submarket is at a historical low of 1.9% and rents are expected to grow 6.5% into Q2 2023. The portfolio has significant value-add upside as current out of state ownership has renovated 82 units across both properties, achieving average rent premiums of $350+. Both assets provide an ideal value-add template for the next owner to complete, with the ability to organically increase rents to bridge the gap with renovated competition in the submarket. Having a favorable location less than 10 minutes from downtown and immediate access to major demand drivers, Axis & Mosaic presents a premier investment opportunity.
- Value-Add Program Yielding $350+ Premiums
- Submarket Competition Supports Ability to Increase Rents
- Unprecedented Rent Growth in Submarket
- Proximity to Downtown and Wedgewood-Houston
- Connectivity to All Employment Nodes