The Preserve at Southwind is a 306-unit Class A workforce housing community located adjacent to the upscale Germantown/Collierville submarket of Memphis, TN. The property was developed in 2000 and the location provides residents immediate access to numerous commercial venues, hospitals, and many of the area’s largest employers.
The Preserve is located less than one-half a mile from the 1.1M square foot world headquarters of Federal Express which employees over 3,000. The Federal Express World Technology Center, also with over 3000 employees is a short drive from the property. Southwind is part of the Nonconnah High Tech Corridor established by the State of Tennessee to attract technology related jobs to the area. The Preserve is in close proximity to the Southwind mixed-use community which includes homes ranging from $300,000 to $3,000,000, over 800,000 square feet of retail space, and over 3,000,000 square feet of Class A office space.
Preserve at Southwind was developed in 2000 and resides adjacent to the highly acclaimed Germantown/Collierville submarket. The area has the highest average rent and occupancy of any suburban submarket in Memphis. The average household income is 24% higher than the Memphis MSA. The Preserve apartment homes range in size from 700 square foot one-bedroom floorplans, to 1434 square foot three bedroom/two bath plans. The gated access community features a clubhouse with billiards room, business center, fitness center with a yoga and aerobics studio, weight room, swimming pool with jacuzzi, covered parking, some direct access garages, picnic areas, and a bark park. Interior unit features include nine-foot ceilings with crown molding, computer desks, garden tubs, ceiling fans, patios/balconies, outside storage, and some units have fireplaces.
Balfour Beatty Communities assumed management at closing. A moderate upgrade program will begin immediately after closing. The enhancements will include upgrades to the clubhouse, expanded community amenity package, and moderate interior updates to some of the units.