Completed this year, Parc at Murfreesboro features 359 one-, two-, and three-bedroom units with top-of-the-line features and amenities in the Nashville, Tennessee, suburb.
Courtesy American Landmark Apartments and BentallGreenOak Completed this year, Parc at Murfreesboro features 359 one-, two-, and three-bedroom units with top-of-the-line features and amenities in the Nashville, Tennessee, suburb.

Multifamily owner and operator American Landmark Apartments and global real estate investment management advisor BentallGreenOak (BGO) have partnered to acquire a newly built multifamily community in the Nashville, Tennessee, metro area. The joint venture partnership purchased the 359-unit Parc at Murfreesboro for $78.9 million from Equity Resources in an off-market transaction at the end of August.

“We are delighted to partner with BGO, a global leader in real estate investment management with deep capital sources and expertise in all facets of real estate investment,” said Joe Lubeck, CEO of American Landmark. “Our companies share many values in common, most importantly a highly disciplined approach to investing and an emphasis on resident satisfaction and outstanding customer service.”

The development was completed this year in the sought-after Murfreesboro suburb. The one-, two-, and three-bedroom floor plans feature gourmet kitchens with granite countertops, shaker cabinets with brushed nickel pulls, and Whirlpool stainless steel appliances; in-unit washers and dryers; wood-style flooring; and smart home thermostats, locks, and lighting fixtures. Amenities include a resort-style swimming pool with cabanas and a fire pit; a fitness center with virtual fitness training; a yoga lawn and Zen area; electric vehicle charging stations; a pet park and dog wash station; and detached garages.

“American Landmark is known as a premier sponsor and operator in the Sun Belt multifamily space, and this transaction marks the first step in growing our relationship with them,” said Kevin Rivest, managing director of investments at BGO.

American Landmark, which ranks No. 33 on the National Multifamily Housing Council’s list of top apartment owners for 2021 and has approximately 34,000 apartment units in its portfolio, will make additional improvements at Parc at Murfreesboro, including landscape beautification, designer clubhouse and pool deck furniture, and smart locks throughout the common areas. Its property management team will assume responsibility for lease-up and stabilization of the community.