NASHVILLE, TN – Security Properties and Pacific Life Insurance Company announced the buy of Broadstone Gulch, a 238-unit Class-A new construction multifamily property located in Nashville, TN for $80,750,000. Security Properties now owns a total of seven assets in the Nashville marketplace.
Broadstone Gulch is located in The Gulch, an energetic neighborhood ideally situated between Downtown, Midtown, SoBro, and Music Row. The Gulch is a LEED Neighborhood Development that hosts Class A office, luxury brand hotels, and some of Nashville’s most well loved restaurant and nightlife destinations. Recent and plotted redevelopment projects have elevated The Gulch to be not only a well loved destination for tourists and visitors, but also an exciting place to live and work.
The property boasts among the highest quality interior unit finishes in Nashville, including luxury appliance packages of side-by-side refrigerators and hidden-control dishwashers, full-size washer/dryers in every unit, marbled quartz countertops, keyless entry, and wine coolers in select units. Additionally, Broadstone Gulch provides an brilliant amenity package to tenants, with a state-of-the-art fitness center, rooftop sky lounge, indoor/outdoor pool club, demonstration kitchen, 24/7 package access system, smart office space, pet spa, Google Fiber, and many others.
The site sits on the southwest corner of Division St and 8th Ave S, providing a less than 10-minute walk to both Music City Center (Nashville’s Convention Center) and the heart of the Gulch (12th & Pine) via 8th Ave S and Division St, respectively. This location will become even more walkable as further development occurs in the micro-location.
Broadstone Gulch and its neighborhood are poised to benefit from a rapidly expanding professional employment base located in Nashville’s core. Numerous Class A office projects are currently under construction, which will host an array of sought-after employers, including Amazon, AllianceBernstein, and Asurion.
According to Tad Johnson, Director at Security Properties, the acquisition was made because, “The Gulch is a fantastic location that will directly benefit from the proximate office growth in Nashville’s urban core; we are thrilled to add this Class-A asset to our Nashville portfolio.”
The property will be managed by Security Properties-affiliate Security Properties Residential. The transaction was brokered by Telly Fathaly and Kris Mikkelsen of Walker & Dunlop Investment Sales.

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NORTH BETHESDA, MD – Foundation Housing, a 501(c)(3) mission-driven nonprofit with a commitment to enhancing the availability and preservation of affordable housing, announced the acquisition of two HUD-subsidized properties, marking the 100th and 101st affordable housing communities added to its portfolio. The properties, Myrtle Landing in Cape Charles, Virginia and Valley Grove in Mountain City, Tennessee, are both elderly-preferred communities in rural areas, where affordable living opportunities are limited.
“We are excited to add these communities to the Foundation Housing portfolio,” said Todd Travis, Chief Operating Officer and President of Foundation Housing. “These property acquisitions were made possible by strong partnerships with committed investors and the collaboration of our hardworking team who are dedicated to providing high-quality, safe, clean, and affordable living environments.”
Myrtle Landing, built in 1985, spans 8.4 acres and houses 93 one-bedroom units. Currently at 95.7% occupancy, median incomes at Myrtle Landing are 28.9% lower than the United States median household income of $58,828.
Valley Grove, built in 1981, is a 5.38-acre property with 40 one-bedroom units. The residents of Valley Grove, which is at 97.5% occupancy, have a median income of $31,376, which is 46.7% below the national household median.
At a time of skyrocketing demand for rental housing nationwide and with the rental housing stock diminishing precipitously, it is noteworthy that these acquisitions ensure the affordability of these communities by at least two decades. “Foundation Housing stands by its commitment of transforming lives and neighborhoods,” Travis said. “Our properties account for a notable base of the overall population in these rural towns. We are heartened in knowing that we are preserving affordable living for elderly residents in these communities and providing a solution for the affordable housing crisis now gripping America.”

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BEVERLY HILLS, CA – Kennedy Wilson announced the acquisition of five multifamily properties in an off-market transaction for $342 million. The assets were bought by various investment vehicles managed by Kennedy Wilson. The communities, located in Washington, Oregon, Colorado, Nevada and New Mexico, expand Kennedy Wilson s multifamily portfolio focused on institutional-quality, garden-style apartments in rapidly growing markets in the western United States.
Kennedy Wilson has an average ownership of 38% in the assets.
This off-market opportunity to buy a collection of well-located apartment communities is a fantastic way to cap off a year that emphasized improving our multifamily portfolio to include high-quality, income-generating communities where we are adding substantial value, said Senior Managing Director Shem Streeter, who leads acquisitions for Kennedy Wilson s U.S. multifamily division. We are confident in the underlying demographics and economic fundamentals of these markets, and we are especially pleased to continue growing our presence across the Mountain States region.
Kennedy Wilson and its equity partners invested $122 million of equity in the portfolio, including closing costs. Kennedy Wilson s asset management plot includes adding and enhancing amenities and updating unit interiors across the portfolio.
The five-property portfolio contributes 1,008 units to Kennedy Wilson s growing multifamily presence in the Mountain States, which now totals approximately 8,300 multifamily units, including units under development. The portfolio also adds 449 units to Kennedy Wilson s Pacific Northwest portfolio, which now totals approximately 11,700 units, including units under development. The acquisition builds on the company s total multifamily portfolio of 29,500 units, including properties under construction.

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