HNP Properties Obtains $14.3M Construction Loan For Mixed-Use Building In Nashville
2526 & 2528 Eighth Avenue South Nashville, Tennessee 37204, Usa
$14,300,000
Building Size
—
Asset Type
Mixed-use
Closing
Jul 25, 2023
About this deal
AI
An LLC associated with HNP Properties in Nashville has obtained a $14.3 million construction loan for "The Eighth," a mixed-use building in Melrose. The property is located at 2526 & 2528 Eighth Avenue S in Nashville, TN. The construction loan will be used to fund the development of the mixed-use building.
Summary of transaction details
- Property Type: Mixed-use
- Loan Amount: $14,300,000
- Loan Type: Construction
- Address: 2526 & 2528 Eighth Avenue S, Nashville, TN
- Market: Nashville, TN
- Landlord: HNP Properties
The construction loan obtained by the LLC associated with HNP Properties will enable the development of "The Eighth," a mixed-use building in Melrose. This transaction highlights the ongoing growth and investment in the Nashville real estate market.
Players
Scottsbluff Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.11%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93