According to the Nashville Business Journal, LIV Development recently acquired the Eastside Heights apartments for $63.26 million, which is slightly lower than what Steadfast Cos. paid for it in 2019.
The building was opened in 2017 and was a joint project between Southeast Ventures and Hardaway Construction. It boasts five stories with 249 apartment units, as well as ground-level retail space of 8,000 square feet and a parking garage with room for up to 360 vehicles.
This purchase equates to approximately $254,076 per unit.
LIV Development has an extensive portfolio of over 20,000 units primarily located in the southern region of the U.S. They currently own two other apartment complexes in Nashville – Livano Nations and Livano Trinity – and previously sold another East Nashville property called The Cleo for $66.98 million back in 2018.
Overall, this transaction represents a slight discount on market value but still adds another valuable rental asset to LIV’s growing portfolio within Nashville’s thriving real estate market.
