CHICAGO, IL - Origin Investments, a leading multifamily real estate fund manager, announced the acquisition of the Queens Wedgewood-Houston (Queens WeHo), a 221-unit multifamily community at 715 Hagan St. in the WeHo neighborhood of downtown Nashville, Tenn. The purchase price exceeded $79.4 million.
With this acquisition, Origin Investments’ portfolio of multifamily properties totals nine communities and over 2,300+ units in varying stages of pre-development, construction or operation in Nashville.
"As active investors and developers in Nashville, we recognized the necessity of being in the dynamic Wedgewood-Houston submarket and were highly impressed by the unique nature of Queens WeHo," said Kyle Verhasselt, Senior Vice President of Acquisitions at Origin Investments. "With its distinctive design, prime location, and strong potential, we are excited to add this exceptional asset to Origin’s portfolio in Nashville and across the country."
Queens Wedgewood-Houston, developed by Proffitt Dixon, was delivered in 2023 and features a mix of studio, one-, two- and three-bedroom units ranging in size from 559 square feet to 1,120 square feet. At the closing, the stabilized community was approximately 94% occupied after leasing at a pace of more than 20 units per month during the summer and fall.
Another significant benefit of the property is its well-located restaurant and retail space. It is fully leased to Mercado by Butchertown, an extremely popular Nashville restaurant that also features its dynamic rooftop bar, Ramone’s, which offers breathtaking views of the downtown skyline.
Designed and built as a luxury apartment community, the property offers high-quality unit finishes and market-leading amenities including an on-site music studio, a luxury saltwater pool and fully equipped gym, panoramic views of the Nashville skyline, Google Fiber internet and a pet-friendly atmosphere.
Queens WeHo offers an unparalleled location in a primarily residential neighborhood just south of downtown that has a high barrier to entry and is surrounded by homes priced at or above $1 million. Within a 3-mile radius of Queens WeHo are the Musicians Hall of Fame, Country Music Hall of Fame, Bridgestone Arena, Nissan Stadium, and Vanderbilt University.
Located minutes from the downtown business district, the area is home to employers such as Apple Music and Live Nation, Nashville’s new Major League Soccer Stadium (Geodis Park), and countless amenities such as SoHo House, art galleries, coffee houses, breweries and restaurants.
Walker & Dunlop directed the Investment Sale and Debt Placement efforts in the transaction. The Walker & Dunlop finance team included Jamie Butler, senior managing director; and Cliff Ayers, Jason McFadden, Brett McGuire and Michael Bowles, all managing directors; as well as Russ Oldham, managing director, and his team on the investment sales side.
"We were excited to facilitate this transaction on multiple fronts, with our Nashville-based W&D Investment Sales team representing the seller and the W&D Finance team securing acquisition financing for the buyer,” said Russ Oldham, managing director of Investment Sales at Walker & Dunlop. “Queens Wedgewood is yet another exceptional asset developed by Proffitt Dixon, and this deal highlights the continued demand for high-quality properties in dynamic submarkets like Wedgewood-Houston."
Origin Investments’ Commitment to Nashville
With this acquisition, Origin Investments has nine (9) multifamily communities totaling more than 2,320 units in varying stages of the development, ownership and management cycle in the Nashville marketplace.
- As of year-end 2024, Novo Hickory Highlands, featuring 186 units, was 88% leased. All construction has been completed.
- Rye Charlotte, which features 320 units, is 62% leased. All construction is complete.
- Northerly, a 297-unit community in suburban Madison, is 55% leased and all construction is complete.
- Tessa Madison is a 199-unit build-to-rent project in suburban Nashville. Origin is undertaking sitework and looks to deliver first homes in early 2026.
- Origin is in varying stages of preconstruction with projects that include: Haven at Cool Springs, and Edgehill Commons.
Origin, which made its first investment in Nashville in July, 2021 remains very bullish on the market based in part on its strong fundamentals and growth projections. In its 2025 Rent Growth Forecast, Origin Investments’ proprietary suite of machine learning models, Multilytics® is forecasting YOY Class A rent growth gains in the Southeast region, which includes Nashville. In fact, by January 2026, Class A rents in Nashville are expected to increase by 3.69%. Further, the five-year compounded annual growth rate (CAGR) for Nashville is expected to reach 5.0%.