Accent Metrocenter consisted of 282 multifamily units in Nashville, one of the fast-growing markets in the southeastern U.S. To capitalize on this momentum, Westplan is currently building a new project called Accent Nolensville Pike which is within walking distance of the MLS stadium under construction.

Key data

Developer Westplan Investors
Investment date Q4 2018
Foundation costs $49,5M
Construction lenders  $31,7M
Equity invested $18,075,000
Original return 15% IRR p/y
Original duration 3 years
Final Equity Multiple 1.61
Final IRR 33%


Our strategy is “build, fill and sell”. We develop the complex, lease the apartments and then sell to an end buyer when the occupancy is stable. Generally, the process takes 3 to 4 years.

Result: a unique transaction

Accent Metrocenter was sold for $63,450,000 ($225,000/unit). Not only did the project sell for a higher amount than projected, it also was sold significantly faster than expected. For the first time in Westplan’s history, a complex was sold prior to completion. It was definitely a unique transaction that produced great results for investors.