The Luxe at Indian Lake Village is company's fourth recent midstate acquisition
June 29, 2017 | Nashville Post
Nashville-based OakPoint Investments Thursday announced its acquisition of The Luxe, a 94-unit luxury apartment complex located at Streets of Indian Lake Village in Hendersonville.
According to a release, the seller was Nashville-based HRP Residential, which developed and managed the Luxe through its lease-up.
A transaction price was not disclosed in the release.
Brentwood-based The Kirkland Co. represented HRP Residential in the sale.
The Luxe was constructed in 2016 and, according to the release, is the only apartment complex of its type located in Hendersonville. Located at 130 Cinema Dr., it features interior hallways, elevators and controlled vehicular and pedestrian access.
“The combination of the property’s walkable location, superior amenities, high build quality and boutique size make it an extremely appealing option for Hendersonville residents, which in turn makes it an attractive, long-term investment for OakPoint.” OakPoint Investments Principal James Granberry said in the release.
In the last three years, the OakPoint has purchased Middle Tennessee buildings with approximately 850 apartment units, including 300 units in The Nations neighborhood and 192 units currently under development with Vita Residential in Columbia.
Similarly and since 2011, OakPoint Investments has acquired nearly $300 million of commercial and multifamily assets across four states.
OakPoint Investments is a division of OakPoint Real Estate, a commercial real estate investment and advisory firm with offices in Nashville and Austin.
The 2016 completion of The Luxe rendered the multifamily portion of the Streets of Indian Lake Village as fully built out. The mixed-use development features restaurants, retail and entertainment amenities as well as both single-family and multifamily residences.