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Brentwood apartment complex sells for $130M


Development is only residential project in Town Center
Northwestern Mutual Life Insurance Co. has sold its Tapestry complex at Brentwood Town Center for more than $130 million.
The buyer is listed as SE Tapestry LLC, which was registered as a business in Tennessee late in 2020. 
Tapestry, which includes 393 units, 
is the only development approved under zoning that allowed residential units in the Town Center district, making the complex a highly valuable and distinctive property. In a 2011
Brentwood Home Page story, Rob Francour, a property investor for Northwestern Mutual, said the company had planned to own the units as an investment for seven to 10 years rather than to sell them right away. ....

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Phillips Edison Strengthens Minnesota Presence with Acquisition of West Village Center


Press release content from Business Wire. The AP news staff was not involved in its creation.
Phillips Edison Strengthens Minnesota Presence with Acquisition of West Village Center
February 18, 2021 GMT
CINCINNATI (BUSINESS WIRE) Feb 18, 2021
Phillips Edison & Company, Inc. (“PECO”), an internally-managed real estate investment trust (“REIT”) and one of the nation’s largest owners and operators of grocery-anchored shopping centers, today announced the acquisition of West Village Center, a 142,724-square-foot shopping center in Chanhassen, Minnesota. The acquisition serves to bolster PECO’s presence in Minnesota, representing its 11 th shopping center in the Minneapolis-St. Paul metropolitan area.
West Village Center is anchored by a 64,643-square-foot Lunds & Byerlys – one of the strongest boutique grocery chains in the country – and features a diverse mix of service, medical, and specialty retailers including Party City, TCF Bank, FedEx, Offic ....

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