
Denholtz Properties Continues Growth of Multifamily Portfolio with Acquisition of 384-Unit Residential Community Near Downtown Nashville
16 August 2022
Denholtz Properties Acquires 5150 JB Drive Apartments, Expands Southeastern Multifamily Portfolio
Denholtz Properties is pleased to announce the acquisition of 5150 JB Drive Apartments, a premier 384-unit Class-A multifamily community located at 5150 Jack Byrnes Drive in Murfreesboro, Tennessee. This strategic acquisition strengthens the company’s position in the rapidly growing Nashville metropolitan area, particularly in Rutherford County, a booming submarket known for its high-quality infrastructure and major corporate presence.
Murfreesboro, part of the Southeast Nashville corridor and home to top employers such as Nissan North America, Amazon, State Farm, and Bridgestone/Firestone, has ranked as one of SmartAsset’s Top Boomtowns of America with a five-year population growth of 19.62% and an annual GDP growth of 3.71%. 5150 JB Drive Apartments, completed in 2020, is ideally located less than 30 minutes from downtown Nashville and offers a robust set of luxury amenities including a resort-style pool, 24-hour fitness center, car wash, dog park, and garage parking, all within close proximity to major highways.
“Murfreesboro’s dynamic growth underscores the Southeast’s desirability as a real estate market,” said Stephen Cassidy, President of Denholtz Properties. “This acquisition allows us to tap into the city’s growth and expand our Southeast portfolio with an established property in a key location. Our proven approach to multifamily management will allow us to enhance the community’s success while delivering value for our residents and investors.”
This addition follows several recent acquisitions, including Vida Apartments, a 289-unit luxury community in Kannapolis, North Carolina, and a $1 billion joint venture to target multitenant industrial properties. Denholtz Properties also recently acquired a 53,811-square-foot industrial building in Charlotte, North Carolina, as part of this venture, and has added significant office and industrial space in North Carolina and Florida.
JP Josephson, Director of Acquisitions for Denholtz Properties, remarked, “The Southeast’s robust growth continues to align with our investment strategy. Over the past year, our flexibility and market insights have driven the addition of high-quality assets to our portfolio. We remain focused on targeting top-tier acquisitions that leverage the region’s potential and look forward to continuing this momentum.”
The acquisition of 5150 JB Drive Apartments exemplifies Denholtz Properties’ commitment to strategic growth across the Southeast and its focus on delivering value through quality investments in multifamily, industrial, and office properties.