Los Angeles-based CIM Group now owns five-story Stacks on Main, which opened at 535 Main St. last fall.
The owner of downtown’s iconic L&C Tower has bought the five-story Stacks on Main apartment building in East Nashville to expand its Nashville area portfolio.
Los Angeles-based CIM Group declined to disclose how much it paid for the 268-unit apartment complex, which opened at 535 Main St. last fall.
The seller was an affiliate of St. Clair Holdings, an Atlanta-based real estate investment company.
Stacks on Main, which sits next to the Fifth & Main mixed-used building, offers one- and two-bedroom apartment units. Amenities include a salt water pool, rooftop deck with views of Nashville, a fitness and yoga center, music room, bike storage, clubhouse and a business center.
In 2015, real estate and infrastructure investment firm CIM Group made its Nashville debut by paying $29.75 million for the 272,000-square-foot L&C Tower office building, which was downtown’s first skyscraper.
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