Investment Highlights
Southpoint at Stones River represents TruAmerica’s first investment in the Nashville MSA. Located in the town of Hermitage, the property boasts tremendous access to job centers sitting approximately 15 minutes east of Downtown Nashville, 10 minutes northeast of Nashville International Airport, and within a five-minute drive of both Deloitte’s Nashville campus and Tristar Medical Center.
In addition to abundant employment opportunity, Oakwell Farms provides unique access to recreational activities. Stones River Greenway, a 9.8-mile trail that runs along the Stones River, is located 1.5 miles from the Property. Percy Priest Lake, located less than one-half mile south of the property, provides a myriad of options including several marinas, hiking trails, and the Nashville Shores Water Park.
Property Highlights
The 410-unit property was built in two phases in 1987 and 1989 featuring a desirable balance of one-, two, and three-bedroom floorplans. All floorplans at the property have porches or balconies as well as walk-in closets.
Prior ownership completed full renovations on nine homes (2%) with vinyl flooring in the kitchen, bathrooms, and living areas, black appliances, and upgraded dark brown shaker style cabinetry and has partially renovated 68 (17%) others with vinyl flooring in the kitchen and bathrooms as well as black appliances in the kitchen. TruAmerica plans to complete interior upgrades in all 410 apartment homes. The interior scope will include white shaker cabinet fronts, stainless appliances, quartz countertops, vinyl flooring, tile backsplash, and upgraded fixtures and hardware.
TruAmerica also plans to update and repurpose the amenity spaces and common areas at the Property. Planned upgrades include renovating the main clubhouse and repurposing the 2nd clubhouse, new pool furniture, exterior paint, outdoor kitchens at the pool areas, new signage, converting the existing playground to a dog park, and installing new fencing on the patios in first floor apartments.
Community Amenities
• Two swimming pools
• Leasing office with resident clubhouse
• Renovated fitness center
• Wifi access in clubhouse and pool areas
• On-site laundry rooms
• Playground
• Picnic and grilling areas
• Two lighted tennis courts
