Embrey Partners Acquires Land for 360-Unit Multifamily Development in Spring Hill, Nashville; PCCP Provides Financing

Embrey Partners has acquired land for a 360-unit Class A garden-style multifamily community in Spring Hill, Tennessee, with PCCP providing development financing for the project, the San Antonio-based developer announced Sept. 23.

The development, named Hollis at Legacy Pointe, will be situated at the northeast corner of Saturn Parkway and Main Street within SouthStar's Legacy Pointe master-planned, mixed-use development in the Nashville submarket of Spring Hill. The project will mark Embrey Partners' second community in Spring Hill and its 11th in the Nashville metropolitan area.

Project Details and Amenities

Hollis at Legacy Pointe will offer a curated amenity package that includes a private clubhouse with a business center and fitness studio, a resort-style pool with a courtyard and grilling area, a pickleball court, and a dog park. Residences will feature two distinct interior finish schemes with shaker-style cabinetry, quartz or granite countertops, wood-style flooring, framed mirrors, tiled kitchen backsplashes, upgraded plumbing fixtures, Wi-Fi-enabled climate control, and keyless entry.

The broader Legacy Pointe master plan is designed to include more than 400,000 square feet of commercial space — encompassing restaurants and retail offerings — at buildout, positioning Hollis within a walkable, mixed-use environment. The site also provides access to major nearby employers, including General Motors and Ultium Cells.

Construction is expected to begin in the fourth quarter of 2026, with first move-ins anticipated in the second quarter of 2028.

Embrey Partners and PCCP on the Deal

"Spring Hill continues to stand out within the Nashville market because of its strong growth, limited new multifamily supply, and high barriers to entry," said Garrett Karam, Embrey Partners' chief investment officer. "Adding a second community here gives us an opportunity to build on our experience in the market while delivering value for our investors and the community."

Brad Knolle, executive vice president of development at Embrey Partners, added: "We are proud to bring EMBREY's signature quality and thoughtful design to our second multifamily community within Legacy Pointe. Our team is focused on creating a community that responds to Spring Hill's continued growth while complementing the vision for the broader Legacy Pointe master plan."

PCCP, a privately held real estate finance and investment management firm focused on commercial real estate debt and equity investments, provided financing for the development. PCCP has approximately $29.3 billion in assets under management on behalf of institutional investors, as of Dec. 31, 2025, and has offices in New York, San Francisco, Los Angeles, Atlanta, and Seoul. Since its inception in 1998, the firm has managed, raised, or invested over $47.8 billion of capital through private equity funds, separate accounts, and joint ventures.

Spring Hill Market Context

Spring Hill's multifamily fundamentals have attracted developer attention in recent years. The city's rental vacancy rate stands at 5.9%, below the estimated 7.4% level associated with stable rental-market mobility, pointing to a need for additional rental supply. Household growth in Spring Hill is projected at 31.8% between 2026 and 2031, rising from roughly 22,312 households to approximately 29,401, with an estimated 7,400 additional housing units needed over that period.

Employment anchors including General Motors' Spring Hill operations and the Ultium Cells battery plant provide an identifiable base of renter demand in the submarket. Nashville's broader multifamily market has been working through a substantial delivery cycle, particularly in urban and inner-ring locations, while outer-ring communities such as Spring Hill have shown comparatively stronger occupancy and less concession pressure. Hollis at Legacy Pointe's 2028 delivery window positions the project for a later phase of the current cycle.

Embrey Partners' Tennessee and National Footprint

Hollis at Legacy Pointe will follow Cantara at Legacy Pointe, a separate 350-unit Embrey Partners community in Spring Hill, bringing the firm's planned and active apartment unit count in the city to 710. Over nearly four decades in Tennessee, Embrey Partners has developed 13 communities totaling more than 3,700 apartment homes across the state.

Across its broader portfolio, the family-owned firm — founded in 1974 — has developed more than 50,000 apartments and over 6 million square feet of commercial property in Texas, Arizona, Colorado, Florida, North Carolina, and Tennessee. The company currently has more than 6,000 units under construction or in development.

Sources

Embrey Partners — Official Announcement