Nashville, TN

Address: 715 Merritt Ave Nashville TN

Land: 130,680 square feet (3.00 acres)

Apartment Units: 300

Square Feet: 247,000

Buildings/Floors: 3, 5/6-story buildings

Year Built: 2022

Parking: 360 Spaces

UW Yield on Cost: 6.00%

Value Proposition:

Wedgewood recently closed on a fully entitled 3.00 development site in the Wedgewood-Houston neighborhood of Nashville, TN. Wedgewood plans to develop a ground-up, mixed-use multifamily asset which will include 300 apartments, 14,000 square feet of retail and 360 parking spaces. The site is located in a Qualified Opportunity Zone (QOZ) and provides investors with additional and significant tax benefits by investing in the deal. Over a ten-year hold period, the Property is projected to generate investor-level 15% IRR and a 2.5x equity multiple, with over 45% of the equity returned within the first 5 years.