NASHVILLE, TN - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, announced the opening of its newest office in Nashville, TN.
The new office marks ARA’s 24th location and further solidifies ARA’s national market coverage that spans 40 states from California to Massachusetts providing ARA’s clients with coast-to-coast market expertise.
Former Cassidy Turley Multi-Family Division Leader, Scott Tyrone, who has executed acquisitions, dispositions, development and conversions amounting to more than $450 million in value, will lead the charge for the ARA Nashville operations.
Already an active player in the Nashville market for over a decade, ARA Atlanta has executed more than $600M in multihousing investment sales, representing 9,000+ units, during that time – working from their Atlanta base of operations. With the opening of the Nashville office, the Atlanta team will operate as an adjunct to the Nashville office; providing a full range of marketing and analytical support services.
According to ARA Atlanta owner and principal John Weber, “ARA’s expansion into the Nashville market is a natural progression of our focus in the southeast and was really driven by our clients who see tremendous investment opportunity in markets like Nashville.” He added, “Putting our flag in Nashville demonstrates our long-term commitment to this market – 46% of the market’s broker represented multifamily transactions were executed by ARA and we expect this number to grow substantially under the leadership of Scott Tyrone, a proven producer with an excellent track record and impressive roster of clients.”
Sean Henry, Principal of ARA added, “The Nashville multihousing investment sales market has historically been underserved with only one other national brokerage player having a local presence in the market. We feel the addition of Scott will add a local presence to our team and help us better serve our clients throughout the entire state of Tennessee.”
ARA has introduced a number of new investors to the Nashville market over the years including Mission Residential, TIC-buyer Eliason and New Dawn Companies. Most recently, ARA represented DRA Advisors in the sale of the Nashville located 452-unit Overlook community to Olympus Properties.
Tyrone commented, “Despite the state of the capital markets and the impact it’s had on our industry, the Nashville multifamily market continues to attract investors.” He added, “Demand for multifamily product has not waned and it continues to be driven by the city’s many positive attributes that include its diverse economic base, favorable cost of living, and quality of life amenities that continue to attract businesses and new residents alike.”
To schedule an interview with an ARA executive regarding this practice group or for more information about ARA, please contact Lisa Robinson at Lrobinson@ARAusa.com, 678.553.9360 or Amy Morris at Amorris@arausa.com, 678.553.9366.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in average annual production volume of $5.5 billion in real estate transactions since 2005. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com