EJF Capital Secures $80 Million Loan From Prime Finance For Nashville Development Site

The asset involved in this transaction is a development site located at 550 Great Circle Road in Nashville, TN. It is part of a Qualified Opportunity Zone (QOZ) and consists of a 377-unit multifamily property, The Samara, featuring studio to 2-bedroom units along with amenities such as a pool, co-working lounge, and rooftop deck.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $80,000,000
• Lender: Prime Finance
• Landlord: EJF Capital
• Brokers: KO Kennedy, Cliff Joyner, David Zimmerman, William Bould & Toy Allen - CBRE

EJF Capital secured the loan from Prime Finance as part of their strategy to invest in Qualified Opportunity Zones nationwide. The transaction highlights the collaboration of multiple brokers representing the involved parties and emphasizes the significance of this development in Nashville's Metrocenter neighborhood.