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
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