NASHVILLE, TN—The ears of multifamily investors may be perking up as Jones Lang LaSalle Capital Markets starts marketing a portfolio of four multifamily properties known as the Lehman Nashville Portfolio. The properties span more than 1.5 million square feet and offers 1,593 units.

“Because the portfolio includes properties of varying vintages, locations and return strategies, it offers investors a balanced approach to meeting investment criteria,” Vince Lefler, senior vice president at JLL, tells GlobeSt.com. The portfolio is located in Nashville’s southern and eastern submarkets including Brentwood, Hermitage, Antioch, and Nashville proper. The properties are being offered for sale as a package or individually.

“While a value-add investment strategy is ‘hot,’ some investors will recognize that a couple of the properties provide a significant cash-on-cash return from day one, allowing them to focus on upgrading properties with the highest potential rent increase,” says Lefler. “As a result, we expect offers from a broad spectrum of buyers: institutional groups, private equity, local investors and regional sponsors with institutional JV equity."