Two of Hillsboro Village's best-known apartment buildings just traded hands in a $54.8 million deal, putting a pair of mixed-use anchors under the control of buyers tied to Elmington Capital Group. The properties, which opened within the last decade and combine upper-floor apartments with ground-floor retail, were sold by entities affiliated with Tribridge Residential, according to recently filed deeds.
What Sold And Who Bought
As reported by the Nashville Post, the sale covers Belcourt Park, a four-story, 76-unit building at 1710 Belcourt Ave, along with Village 21 at Regions Park, a mixed-use complex with 101 residences at 1620 21st Ave S. Deed records in Davidson County show LLCs linked to Elmington Capital Group as the buyers and entities tied to Tribridge Residential as the sellers, with a combined sales price of $54.8 million. According to the Post, it was not clear from available documents whether any brokers were involved in the transactions.
How This Compares To Past Sales
TriBridge previously picked up the Hillsboro Village properties as part of a broader portfolio in 2020, paying about $52 million for the package, according to Multi-Housing News. That earlier trade, paired with this latest sale, underlines how mid-sized Nashville multifamily assets continue to move as investors chase stabilized cash flow in walkable neighborhoods. Brokers and investors have pointed to small, well-located portfolios as especially appealing, since they marry steady apartment income with potential upside from street-level retail.
Retail Tenants And The Price Per Unit
Village 21 brings a healthy row of retailers to the table, including a Regions Bank branch and shops such as The Urban Juicer, Bad Ass Coffee, and Taco Mama, with a separate building having housed E3 Chophouse, according to the Nashville Post. Post research pegs the combined deal at roughly $309,600 per residential unit, a number that speaks to the premium investors are willing to pay for compact, centrally located portfolios. Public records cited in the reporting also show prior ownership by GBT Realty and other local holders stretching back several years.
What Elmington May Do Next
Elmington Capital Group, described on its website as a Nashville-based investment, development and property-management firm with a national reach and a track record in multifamily operations, has not laid out specific plans for the Hillsboro Village buildings. For now, the likeliest near-term scenario is that leases stay in place while Elmington evaluates capital needs and potential upgrades. For neighbors and local business owners, the change in ownership is the latest reminder that small, well-positioned apartment portfolios in Nashville remain firmly on local investors' shopping lists.
