Meridian Park Apartments
A 158 Unit Multifamily property located in Nashville, TN.
Deal Highlights
Status
Active
Size
158 Units
Location
Nashville, TN
Property Type
Multifamily
Investment Summary
OakPoint acquired a 158-unit, Class A multifamily community in East Nashville’s Highland Heights corridor through a joint venture with Atlantic Creek Real Estate (ACRE), adjacent to Oracle’s new headquarters and the transformative Tennessee Titans Stadium redevelopment. Acquired at an approximate 17% discount to replacement cost, the asset benefits from a compelling basis in one of Nashville’s fastest-growing submarkets. The property is currently undergoing a comprehensive rebrand to Marlwoods Apartments, including refreshed branding, upgraded amenities, and enhanced common areas, with all deferred maintenance completed on budget and the amenity upgrade program progressing on schedule. Since acquisition, operational performance has improved materially, with occupancy increasing by 15% and delinquency significantly reduced as active evictions declined from 10 to just 2. Through disciplined execution and hands-on local management, the partnership is well positioned to capture continued upside while maintaining a basis well below replacement cost.
Property Location
1801 Meridian St
Nashville, TN 37207