By Carla Caldwell, Atlanta Business Chronicle
Atlanta-based Pollack Shores Real Estate Group, a partner in the Atlanta Braves’ $400 million mixed-use project in Cobb County, and who is redeveloping Buckhead’s Colonial Homes apartments, has paid $15.5 million for 3.44 acres and historic Gossett Building in Nashville’s North Gulch area.
(Click here to read more about Gossett Building).
Pollack Shores plans to build an apartment community with more than 300 units, Mark Tarver, president of North Gulch Partners, told The Tennessean.
Pollack Shores is no stranger to the Nashville-area real estate market, The Tennessean adds.
In March 2011, Pollack Shores acquired Velocity in the Gulch from lenders after the real estate market had imploded and turned unsold condo units into apartments, the paper reports.
A year and a half later, Pollack Shores sold Velocity’s 220 apartments to Chicago-based private equity real estate investment firm Walton Street Capital for what at the time was one of the highest per-unit sale prices for apartments in Nashville, the paper said.
Read the full article here.