NASHVILLE, Tenn. (May 10, 2023) — David Stollenwerk, senior vice president, and Bryan Schellinger, managing director of investment sales, in Northmarq’s Nashville office have won CoStar’s Power Broker Quarterly Deals award for Q1 2023. CoStar Group, Inc. is the leading provider of commercial real estate information, analytics and online marketplaces. The CoStar Power Broker Quarterly Deals honor the very best transactions in commercial real estate every quarter based on price and square footage.
Stollenwerk and Schellinger were awarded for the $40 million sale of a 205-unit multifamily property in Clarksville. Addison at Rossview is a resort-inspired apartment community built in 2016 and located at 200 Holland Drive. Stollenwerk and Schellinger represented the seller, a local developer.
“Due to a limited supply of Class-A communities in the Clarksville market,” Stollenwerk said, “Addison at Rossview — with its high-quality amenities, above-market occupancies, and no deferred maintenance — offered a very attractive value to the discerning and informed investor.
“Additionally, Clarksville is a key rental market due to its strong and diverse economy, rapid economic growth, and proximity to Nashville. This community complements the buyer’s existing real estate portfolio.”
Also involved in the deal were Northmarq’s Daniel Trebil, executive vice president and regional managing director of the Minneapolis debt/equity office, and Jesse Lemos, managing director of the Nashville debt/equity office. They collaborated to secure acquisition financing on behalf of the buyer — Timberland Partners.
“By delivering tailored capital market solutions for the buyer,” Schellinger said, “we were able to effectuate a sale with positive outcomes for both parties involved in the transaction, demonstrating the strength of the Northmarq platform and the exemplary results delivered to our clients.”
For more information on the sale, see the Addison at Rossview press release.