Nashville, TN – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, brokered the sale of Gateway Village, mixed-use multifamily and retail development located at 820 N Thompson Ln, Murfreesboro, TN. The sale closed at $18,614,050 and included financing from Matthews™ Capital Market Division. Associate Tripp Brown and Vice President and Regional Director Johnny Blue Craig handled the transaction. First Vice President Chad Plumly of Matthews™ Capital Markets handled the financing.

 

Matthews™ represented the seller, who disposed of the property to reallocate capital into industrial assets in the Southeast. The Gateway Village asset was the only mixed-use asset in the owner’s investment portfolio, which includes over 1 million square feet of industrial properties. The seller was able to extract their remaining equity and exchange it into multiple industrial assets, a product type they are well versed and successful with.

 

“This transaction was very complex with several factors needing to be accounted for including two HOAs and breaking out condos,” Craig said. “Our clients achieved a great price and can reallocate the capital into their primary focus, industrial investments.”

 

The buyer, an out-of-state investor based out of Denver, was sourced through Matthews™ proprietary database. This was the buyer’s first investment in Tennessee and Matthews™ was able to facilitate financing through the company’s debt and equity platform. The buyer was attracted to this asset due to the Gateway Village being the premier mixed-use property in Murfreesboro. The buyer plans to transition the property into a medical-focused tenant mix.

 

“This transaction required the highest level of execution by both the investment sales and capital markets team”, Brown said. “By working as a cohesive group and constantly communicating with all parties involved, we accomplished our clients’ objective, and the buyer has added a trophy asset to their growing portfolio.”

 

For more information or to contact Tripp Brown and Johnny Blue Craig, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 14 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.