International actual property large buys West Nashville property | Growth

An entity affiliated with world actual property large Hines — the Houston-based firm that plans to reinvent Midtown’s former Reed automotive website — has paid $21.25 million for a Sylvan Park self-storage constructing.

The West Nashville property presents an handle of 4311 Alabama Ave., with the CubeSmart self-storage construction rising three ranges.

4311 Alabama art

4311 Alabama Ave.

In line with a Davidson County Register of Deeds doc, the vendor was an LLC affiliated with Nashville-based actual property funding agency Nicol Funding Firm. Nicol paid $14.5 million for the property in March 2020, in line with Metro data.

Mississippi-based York Developments developed the positioning with the storage constructing.

The transaction is the most recent in a collection of self-storage gross sales and growth (learn right here).

Most not too long ago, Nashville-based actual property investor, distiller and entrepreneur Darek Bell and actual property govt Neil Dyer introduced they’re planning a Go Retailer It self-storage facility for Williamson County (learn right here).

Along with its deliberate Reed District venture (learn right here), Hines teamed with Nashville-based C.B. Ragland Firm to develop the SoBro website of 222 2nd Avenue South, the workplace element of which bought for $264.1 million in 2020 (learn right here).

Malvern, Pennsylvania-based CubeSmart is an actual property funding belief that invests within the self-storage companies. The corporate owns and/or operates greater than 500 self-storage properties nationwide and ranks among the many 5 largest such firms in the USA, in line with

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