Preiss Co. inaugurates Nashville project
Owner-operator of private student residences The Preiss company (TPCO) began development of Signature Music Row in the Music Row submarket of Nashville, Tennessee. TPCO has partnered in the development with Speedwagon Capital Partners.
first horizon additional loan inputs provided. JLL Capital Markets served as a debt broker.
Signature Music Row will offer studio, one-, two-, and three-bedroom floor plans. The residences will feature Corian countertops with tile backsplashes, two-tone cabinetry, wood plank floors in every unit, LED ceiling fans in every bedroom and living room, and in the bathrooms, soaking tubs or tiled shower cubicles.
The community’s 101 units will provide a total of 74,837 square feet of residential space. More than 3,000 additional square feet of Class A clubhouse, rental, fitness and amenity space will be offered, highlighted by a sky lounge overlooking Music Row.
“Nashville’s growth, iconic location, and choosing the right product for that location were all determining factors in our decision to move forward with the project at this time,” said Susan Folckemer, director of acquisitions and development of TPCO. Multi-Accommodation News. “This is a boutique multi-family development, which still has its own unique challenges. Rising costs, site hurdles and ensuring we had the right general contractor were some of the challenges we faced when evaluating our final business plan.
“Using TPCO’s development and operating experience, along with our partners at Speedwagon Capital, we have selected RG Anderson as a general contractor and has worked closely with the City of Nashville to overcome these challenges,” she added.
The new development will be within walking distance of Vanderbilt University and Vanderbilt University Medical Center.
It will also be in an area of historic country music recording studios, near the Country Music Hall of Fame, and in an area full of retail stores, parks, and plenty of nightlife options. A day ago, Endeavor Real Estate opened another multi-family community in Nashville.