Almaville Farms

Project Details

Year Closed: 2013
Parcel Size: 13.6 acres

Property Type

Apartments

Site selection assignment for Nashville-based Vita Property Management Group. This was a suburban apartment site requirement in the Town of Smyrna, Rutherford County, Tennessee, for a 221-D4 HUD-insured, market rent apartment project. Fortunately, the developer had completed many apartment transactions through HUD and was well-versed on the lengthy and detailed process required by HUD and its lenders. We located an already-entitled apartment site on the eastern-fringe of Smyrna, which was a component of a master-planned development named Seven Oaks. This assignment required market analysis, apartment rent, unit-mix and occupancy analysis, due diligence management and traffic and utility studies relating to offsite improvements.