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709 Broad Street

Nuveen Green Capital Provides $11.8 Million Loan For Tivoli Theatre Renovation In Chattanooga
FINANCEDCommercial

Nuveen Green Capital Provides $11.8 Million Loan For Tivoli Theatre Renovation In Chattanooga

709 Broad Street

$11,800,000

Building Size

Asset Type

Commercial

Closing

Dec 17, 2024

AI

The property asset involved in this transaction is the historic Tivoli Theatre, located at 709 Broad Street in Chattanooga, TN. The asset is categorized under commercial property type and has received a significant financial investment for its renovation.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: $11,800,000
  • Lender: Nuveen Green Capital
  • Market: Chattanooga, TN
  • Note: This loan was part of a $73.4 million financing package with Reinvestment Fund Inc.

This deal involved key parties such as Nuveen Green Capital, which provided the $11.8 million C-PACE loan specifically for the renovation efforts of the Tivoli Theatre. Reinvestment Fund Inc. played a significant role in the larger financing package.

Players

Ann-Fleming Powell

Davis Moore Capital

Broker

$11.8M

vol

2 deals

Broker
Davis Moore Capital
Davis Moore CapitalBrokerage
Nuveen Green Capital
Nuveen Green CapitalLender

Chattanooga Commercial Market Snapshot

Boundary boundary · Commercial · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.34%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93