Updated Aug 25, 2025
Tony Giarratana Secures $340 Million Construction Loan From Benefit Street Partners For Paramount Tower
1010 Church Street
$340,000,000
Building Size
—
Asset Type
Development Site
Closing
Aug 18, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 1010 Church Street in Nashville, TN. It is notable for its intended construction of the Paramount tower, which will be a significant skyscraper measuring 750 feet in height.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $340,000,000
- Loan Type: Construction
- Lender: Benefit Street Partners
- Landlord: Tony Giarratana
Key individuals involved in this deal include Tony Giarratana, who is responsible for securing the substantial construction loan from Benefit Street Partners to facilitate the development project.
Players
Nashville Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93