Updated Mar 11, 2026
DAC Developments Acquires Development Site In Nashville For $22 Million
319 Peabody Street
$22,000,000
Building Size
—
Asset Type
Development Site
Closing
Mar 11, 2026
About this deal
AI
A development site located at 319 Peabody Street in Nashville was sold for $22,000,000. The property encompasses nearly an acre and is earmarked for a multi-use project featuring a 53-story hotel and condominium tower, which will include 405 hotel rooms and 104 condos, along with retail spaces and various amenities.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $22,000,000
- Address: 319 Peabody Street
- Market: Nashville
- Buyer: DAC Developments
The property acquisition is intended for a significant development project by DAC Developments, which plans to create a prominent hotel and condominium complex at the site. The transaction reflects the company's strategic investment in Nashville's real estate market.
On the Map
$22,000,000
Development Site
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Players
Nashville Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93