One day after the announcement that it sold its management business to Greystar Real Estate Partners, Alliance Residential Company closed on the acquisition of 6.32 acres of land in Nashville for Broadstone Nations, a luxury multifamily community.

This is Alliance Residential’s fifth project in Music City. Construction will begin this year and first units are expected to deliver in early 2022.

The five-story development, designed by Studio Architects, will consist of 343 studio, one- and two-bedroom apartments averaging 809 square feet. Amenities include a private meditation room, individualized fitness experience featuring separated yoga mezzanine, and intimate outdoor gathering spaces centered around a spa-inspired saltwater pool. Unit amenities include custom soft-close cabinetry, built-in desks and chef-inspired kitchen islands, and select units feature home offices, dry bars and wine refrigerators.