NASHVILLE, TN- Demonstrating that Georgia and Florida markets aren’t the only ones in the Southeast to see a multifamily turn around, Wyndchase Aspen Grove has traded hands. Financial terms of the deal were not disclosed.

Jones Lang LaSalle senior vice president Vince Lefler, along with managing directors Derrick Bloom, David Gutting, and Denny St. Romain, handled the transaction for the seller, Trade Street Capital. A real estate fund advised by Crow Holdings Capital Partners purchased the 560-unit, luxury garden-style apartment community in the Nashville submarket of Franklin, Tennessee.

“Nashville is one of the best performing apartment markets in the Southeast and is considered to have fully recovered with market rents and occupancies returning to pre-recession levels,” Lefler tells GlobeSt.com. “Crow Holdings is eager to capitalize on the property’s close proximity to metro Nashville, as well as its newly renovated facilities. All of which makes it poised to capture high rental rates as the economy recovers.”

Built in 1998, Wyndchase Aspen Grove recently underwent significant renovations, as well as an expansion of its fitness center. The multifamily community is in Franklin/Cool Springs, one of the most desired suburban locations in the Nashville area. It is located off of Interstate 65, with unparalleled access to Nashville’s largest employment centers, premium shopping, dining, and entertainment establishments.

“Nashville is highly regarded as an attractive place to live and work and ranks as one of the fastest growth markets in the nation,” Lefler says. “In 2010, Forbes ranked Nashville as America’s #3 Boom City in the coming decade. The reasons for Nashville’s phenomenal growth are both tangible and intangible with high-paying employment opportunities, concentration of high-growth industries as well as industry diversity, low cost of living, excellent school systems and a great quality of life.”

The Jones Lang LaSalle Southeast Multifamily team has collectively closed nearly $775 million in transactions in the Nashville metropolitan region since 2005. The team is currently brokering five institutional quality multifamily properties in the region.