Cushman & Wakefield’s Southeast Multifamily Advisory Group has arranged the sale of ALARA Cool Springs, a 386-unit apartment community located in Franklin, Tennessee. Robert Stickel, Chris Spain, Alex Brown and Brad Boston of Cushman & Wakefield represented the seller, American Realty Advisors, in the transaction. IMT Capital acquired the property.
“ALARA Cool Springs is a top-tier asset with an outstanding amenity package in an irreplaceable setting,” Stickel said. “It benefits from direct access to premier local retail and job centers in Nashville’s desirable suburban corporate submarket. The institutionally owned and well-maintained property garnered significant investor interest throughout the marketing process, showcasing Nashville’s unique ability to attract high-quality real estate investors.”
ALARA Cool Springs, built in 1997, is located on Gillespie Drive in the epicenter of the Cool Springs corporate submarket. Residents benefit from convenient access to Interstate 65, which enables them to quickly reach downtown Nashville. Amenities include a resort-style swimming pool, luxurious outdoor lounge and fireplace, fitness facility, nature trails, and a wide-range of walkable retail and dining options. Known for its high-performing schools, pristine recreational facilities and strong business climate, the Williamson County area has benefitted from consistent investment and national attention.