CIM Group Sells Stacks on Main, A 268-Unit Apartment Building in East Nashville

NASHVILLE, Tenn.--(BUSINESS WIRE)--CIM Group announced today that it has completed the sale of Stacks on Main, a five-story, 268-unit apartment building in Nashville, Tennessee.

CIM Group acquired Stacks on Main in August 2017. Since then, the property has benefited from CIM Group’s experience as a community-focused owner and operator.

Originally built in 2016, the approximately 205,000-square foot property located at 535 Main St., offers one- and two-bedroom unit floor plans and 377 parking stalls in East Nashville, a historic neighborhood that is renowned for its art and local music, restaurants and bars, a vibrant craft beer scene, and boutique retail. Residences feature energy-saving Google Nest thermostats, Google Fiber, and modern, efficient appliances.

Stacks on Main provides residents with an array of modern community amenities including a fitness center and yoga room, saltwater pool and sun deck, a music room for jam sessions, a clubhouse, dog park, outdoor grilling stations and fire pits, and a rooftop deck with views of Music City.

Located 1.5 miles east of Downtown Nashville, Stacks on Main is conveniently located near a diversified economic base driven by healthcare management, music/entertainment, hospitality/tourism, education, manufacturing, and government.

CIM Group made its first investment in Nashville in 2015 with the acquisition of L&C Tower, a 272,000-square-foot office building located in the downtown core.

For more than 25 years, CIM Group has utilized its broad expertise to own, develop, reposition, and operate real estate assets, transforming communities and creating dynamic environments throughout the Americas.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.