Freeman Webb has bought a relatively new East Nashville apartment complex for $42.15 million, adding 166 homes near the growing Laurel & Pine development. The purchase works out to roughly $254,000 per apartment for the three-building property, which opened in 2023.
The Nashville-based real estate company acquired The Flats at Laurel & Pine at 901 Cherokee Ave., according to Nashville Post, which cited a Register of Deeds document for the sale price.
The complex offers studio, one-, two- and three-bedroom layouts, with the property’s website describing it as part of a mixed-use East Nashville destination that combines apartments with retail, dining and office space. The development is positioned near neighborhood restaurants, shops and entertainment venues, according to The Flats at Laurel & Pine.
A 166-Unit Addition To Freeman Webb’s Nashville Portfolio
Freeman Webb is one of Nashville’s largest apartment owners and managers, with more than 18,000 units across its broader portfolio, the company says on its company overview. The firm specializes in acquiring, managing and renovating multifamily properties throughout the Southeast and Midwest.
The Flats at Laurel & Pine includes a clubhouse, fitness center, pool with cabanas, courtyard grilling stations and an outdoor kitchen. Residents also have access to attached garages, controlled entry, a dog park and a dog-washing station, according to the apartment community’s website.
The apartments are part of Laurel & Pine, a Vintage South development that includes more than 24,000 square feet of restaurant, retail and office space alongside the residential component. The project’s developer describes the property as a new mixed-use destination in a fast-developing section of East Nashville, where the neighborhood’s residential growth keeps meeting its appetite for more places to shop, eat and hang out.
