August 24, 2021

LEM Capital Acquires Antioch (Nashville), TN Property

Philadelphia, PA – LEM Capital, L.P. (“LEM”) has acquired Arbor Hills Apartments (the “Property”), a 548-unit apartment community in Nashville, TN. This is LEM’s first acquisition in the Nashville market. The Property, which was built in two phases between 1987 and 1988, is centrally located in Antioch, a fast-growing submarket within the greater Nashville MSA.  LEM plans to execute a comprehensive value-add business plan to upgrade the Property’s interiors, exteriors, and amenities.  The Property was acquired in partnership with a repeat operating partner.

Arbor Hills benefits from its proximity to I-24 which connects residents to Nashville’s largest employment centers within a 25-minute drive.  The Downtown Nashville, Cool Springs, and Brentwood office submarkets are all within easily commutable distance to the Property and provide the MSA with over 280K jobs and 34.4 million square feet of office space.  Historically viewed as the value-alternative area to higher priced submarkets such as Brentwood and downtown Nashville, Antioch has seen numerous high-profile job announcements in recent years.  With major mixed-use redevelopment projects underway, the submarket is poised for growth due to its infill and centralized location.

Arbor Hills Apartments features a desirable mix of one-, two- and three-bedroom floorplans which should attract a broad base of renters.  LEM believes that there is an opportunity to substantially upgrade interior finishes to create best in class units.  The business plan also includes a comprehensive exterior and amenity renovation plan to improve the clubhouse facility and pool area, exterior curb appeal and sense of arrival, and landscaping throughout the Property.

“Arbor Hills represents a unique opportunity to acquire a well-located Property with an experienced, repeat operating partner,” said Chris Potavin, a Director at LEM.  “The Property has significant physical upside, and we believe that it will benefit greatly from the influx of high-quality jobs in Antioch.”

About LEM Capital

LEM Capital is a real estate private equity firm with a 19-year track record focused on protecting investors’ downside and building portfolios to help deliver dependable current cash flow and equity upside through good and bad cycles.

The team consists of multifamily experts that seek to acquire well-located apartment properties where LEM can add value and increase rents through physical upgrades and implementation of better management practices. The firm’s approach combines the local, long-term market knowledge and day-to-day management of its network of local partners with LEM’s disciplined investment selection, rigorous due diligence process and intensive asset management oversight. LEM’s goal is to deliver attractive risk-adjusted returns to its investors while safeguarding capital.

Since 2002, LEM has raised over $1.4 billion in investor commitments1 and has acquired over 24,000 value-add apartment units since 2011.2

Notes: 1 – As of July 9, 2021. 2 – As of August 2, 2021.