Operational Upside Without Significant Capital | Supply Constrained Tailwinds
Investment Opportunity Now Open
Crossings Portfolio
Murfreesboro, Tennessee · Nashville MSA · For Accredited Investors
Overview
A 174-unit operations turnaround in the Nashville MSA.
Crossings is a two-property portfolio in Murfreesboro, TN — Crossings at Greenland and Crossings at Hazelwood — built 2001–2002 and converted from student housing to conventional multifamily, with renovations largely complete.
The next chapter is straightforward without significant capital needed: increase occupancy to market and stabilize the assets through optimizing operations, complete remaining unit upgrades, and execute consistent marketing and amenity upgrades — unlocking meaningful upside on a basis already supported by the work to date.
- Heavy restrictions on new multifamily due to sewer-line capacity constraints
- Murfreesboro pipeline (new starts, under construction + deliveries): annual avg 1,822; 2026: 541 (−1,281 units / −70%)
- Strong job growth across the Nashville MSA (~50K jobs/year recent pace)
- 35–40 minute commute to downtown Nashville along I-24
- Walking distance to MTSU (~22,000 students)
- Median household income ~$80K in Murfreesboro
Property Snapshot
Value Creation
Operational upside without significant capital.
Minimal capital is needed to reach stabilization. Our focus is to take operations in-house, market aggressively, restore rent-roll discipline, finish the remaining interior upgrades which are mostly completed, upgrade outdoor amenities, and reach a stabilized 95% occupancy.
Both assets sit centrally located to the city’s retail corridors, 1.5 mi. from the downtown square, 3 miles from everyday grocery, and 5 mi. from The Avenue, Trader Joe’s and Medical Center Parkway — a robust employment and retail hub.
Why the upside is defensible
- Minimal capital required to reach stabilization
- Take operations in-house and restore rent-roll discipline
- Finish remaining interior upgrades (mostly complete) and upgrade outdoor amenities
- Reach a stabilized 95% occupancy through consistent marketing
- Supply-constrained submarket: 2026 pipeline 541 units vs 1,822 annual average (−70%)
- Below-market in-place rents leave room without relying only on market rent spikes
Investment Projections
Returns Calculator
Illustrative compound growth over a 5-year full-cycle hold. Adjust investment amount and annualized return to explore outcomes. Not a guarantee of results.
Investment
Compound Annualized Return
Average length to go full-cycle
5 years
Total investment return
$233,554
Illustrative equity multiple
2.34×
Target underwriting range: 17–20% Net LP IRR · ~2.0× EM · ~9.0% CoC (cash-flow timing differs from simple compound growth shown in the chart). Calculator is illustrative only and does not include fees, promote, taxes, or timing of cash flows. Target returns on this page are net LP estimates based on current underwriting assumptions.
Property Gallery
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The Team
Sutera Team
Sutera Properties is a vertically integrated multifamily investment and management firm built on alignment with investors through performance-driven systems and outcomes.
Art Heckman
Owner / Founder
Barbara Oaks
Dir. Property Mgmt
Meredi Lee
Equity & Portfolio
Justin Nassie
Marketing & Equity
In partnership with Arcan Capital and HCS Homes
Steve O’Brien
Co-Founder & CEO · Arcan Capital
Paul Williams
Owner · Hill Country Select Homes
Co-GP partner track-record figures as represented by those parties. Not a Sutera guarantee. Past performance is not indicative of future results.
Investor Portal
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174 Units · Murfreesboro, TN · For Accredited Investors
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