EMBREY, a vertically integrated real estate investment company based in San Antonio, TX today announced it has closed on the financing for Thatcher at Aureum, a new Class A, five-story wrap multifamily development located at 6001 Ovation Parkway in the Cool Springs submarket of Franklin, TN. The 3.47-acre community will deliver 296 luxury apartment homes and reflects EMBREY’s continued growth across the Southeast.
Thatcher at Aureum represents EMBREY’s fourth multifamily development in Franklin and its 12th multifamily closing in Tennessee since entering the market in 1986.
“Franklin’s economic strength, highly educated workforce and community character make it an ideal market for our next investment,” said Brad Knolle, executive vice president of development at EMBREY. “With SouthStar in lease negotiations for upscale retail tenants, our residents will enjoy both modern amenities and the historic charm that define Franklin. Thatcher at Aureum will connect residents to everyday convenience while delivering a thoughtfully designed living experience.”
Located along the I-65 corridor within SouthStar’s 22-acre Aureum mixed-use master development, Thatcher at Aureum will offer residents convenient access to retail, dining, office, hotel accommodations, and nearby park and nature trail amenities. Construction will begin immediately, with first occupancies anticipated in the third quarter of 2027.
“SouthStar had its choice of developers who could help define the sense of community at Aureum,” said Glen McGehee, SouthStar president. “We chose EMBREY because of our long-standing relationship and past partnerships. SouthStar is honored to be working with EMBREY again and looks forward to seeing Thatcher at Aureum.”
Thatcher at Aureum will offer studio, one-, two- and three-bedroom floor plans with upscale finishes including wood-style flooring, quartz countertops, tiled backsplashes and premier soft-close cabinetry. Residents will have access to a private clubhouse and Wi-Fi lounge with micro-offices and conference space, a podcast studio, game room and grab-and-go market. Lifestyle amenities will include a resort-style pool with spa, private cabanas and grilling areas, as well as a rooftop terrace, gaming lawn, fitness center and yoga studio. The community will also feature a paw spa, pet park, bike storage and repair shop, and a 24-hour package room with refrigeration. In addition, the project will restore and preserve a historic stone wall on the site, further tying the development to Franklin’s heritage.
Financing for Thatcher at Aureum was provided by Texas Capital. EMBREY’s chief investment officer, Garrett Karam and Brad Knolle led the execution of the transaction.
About EMBREY
San Antonio-based EMBREY is a vertically integrated real estate investment company that develops, builds, acquires, owns and manages multifamily communities and commercial assets in select markets throughout the United States. In 2024, EMBREY celebrates its 50th year in business with 50,000 multifamily units and more than six million square feet of commercial property completed in its history. As a leading developer in the multifamily sector, the company has more than 6,000 units under construction or in development. www.embrey.com
