Dealmaker: Natixis Provides $77M for Tennessee Multifamily Property

Natixis Corporate & Investment Banking, New York, originated $76.8 million for Overall Creek Apartments, a 384-unit Class A property in Murfreesboro, Tenn.

The three-story garden-style property delivered in 2020 and incudes one-, two- and three-bedroom floor plans that average 1,057 square feet.

Overall Creek Apartments is close to the intersection of I-840 and I-24, providing access to downtown Nashville in less than 30 minutes.

Sponsor Denholtz Properties, Red Bank, N.J., is a privately held commercial real estate investment and development company that specializes in acquiring and developing ground-up multifamily, industrial/flex and office properties.

JLL Capital Markets Senior Managing Directors Jon Mikula and Michael Klein, Associate Ryan Carroll and Capital Markets Analysts Salvatore Buzzerio arranged the financing.

Denholtz Properties also recently acquired another Murfreesboro apartment property, 5150 JB Drive Apartments, a 384-unit Class A community located at 5150 Jack Byrnes Drive.

Home to major employers including Nissan North America, Amazon, State Farm, General Mills and Bridgestone/Firestone, Rutherford County is one of metro Nashville’s fastest-growing residential submarkets with nearly 20 percent population growth over the past five years.