Flats at Silo Bend Changes Ownership
Weinstein Properties buys development from Centennial West Partners
Centennial West Partners, a partnership led by Southeast Venture, has sold mixed-use development The Flats at Silo Bend in The Nations to Weinstein Properties of Richmond, Va. The seller was represented by Russ Oldham with CBRE.
Completed in 2019, the development is located at 1605 54th Avenue North and features 193 apartment units and 3,500 square feet of ground-floor retail, as well as an outdoor pool, fitness center, clubroom, dog park and secure bicycle repair and storage. Retail tenants include urban grocer Silo Market and The Hen House Salon.
“Our flagship development in the Silo Bend community, The Flats have been hugely successful with 99% of the residential units occupied and all of the retail space leased,” said Southeast Venture Principal Cam Sorenson. “We feel the development is in a great place to be handed over to Weinstein, who we know will be good stewards of this very successful property.”
This will be Weinstein’s second acquisition in Nashville – the company closed on Novo Donelson, a 199-unit project located adjacent to the Music City Star Station in Donelson, on August 11.
“We’re excited to add The Flats at Silo Bend to our portfolio,” said Chris Taylor, director of financial planning and analysis at Weinstein. “We’ve had our eye on Nashville’s overall development boom – The Flats is located in a very hot neighborhood and is exactly the kind of innovative and highly successful property we like to own.”
Silo Bend is a 38-acre development in The Nations, master-planned by Southeast Venture, which, in addition to apartments, includes single-family homes, condominiums and the 80,000-square-foot retail and office complex Silo Studios.