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Buckingham Cos., which opened a 111-unit multifamily asset in Indianapolis last year, has taken a $31.7 million construction loan from U.S. Bank for the development of the second phase of Whetstone Flats, a luxury community in Nashville, Tenn., according to public records. The first phase, completed in early 2017, contains 252 units, per Yardi Matrix. The property’s new component is set to add 296 apartments, more than doubling the asset’s size.
Located at 1430 Bell Road in the metro’s Antioch South submarket, the existing eight-building community will grow by an additional 10 structures upon completion. The area is no stranger to new construction—there is another development underway immediately east of the project, LIV Development’s 248-unit The Hillson.
The first phase of Whetstone Flats contains a mix of one- to three-bedroom units, and the property was 96 percent occupied as of March, according to Yardi Matrix data. Notable community amenities include two outdoor kitchens, a pet park, attached private garages and a catering kitchen.
By Jeff Hamann
Multi-Housing News
Buckingham Companies @BuckinghamCoOur Maintenance Marvels are the true super heroes this winter for our teams and residents! From shoveling to managing weather related work orders and even helping residents dig out their cars, these team members are the true MVPs! #BuckinghamWins #MaintenanceMarvels pic.twitter.com/rUkmefsCFZ
March 6, 2021
Buckingham Companies @BuckinghamCoBuckingham is thrilled to announce our 4th annual Platinum Sales Club inductees! This group of team members met a set of qualifications to be in this elite recognition, including ranking in the top 10% of move-ins annually. https://t.co/9q5mTdZprR #BuckinghamWins pic.twitter.com/pxgYvJuNKX
March 5, 2021