Santander Bank Provides $53M Construction Financing For 700 Hamilton Ave Mixed-Use Development In Nashville, TN
700 Hamilton Avenue, Nashville, Tennessee 37203, United States
$53,000,000
Units
246
Asset Type
Mixed-use
Closing
Aug 7, 2022
About this deal
AI
The mixed-use property located at 700 Hamilton Ave in Nashville, TN has recently undergone a closed transaction. Spanning over 15,000 acres, the property consists of 246 units, offering a diverse range of residential and commercial spaces. The deal involved multiple parties, including HY Ventures, Atlas Real Estate Partners, and Wedgewood Avenue as the landlords, and Keith Kurland, Michael Diaz, and Sean Reimer from Walker & Dunlop as the brokers.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $53,000,000
- Units: 246
- Acres: 15,000
- Lender: Santander Bank
Santander Bank provided construction financing for the transaction. This loan is aimed at supporting the development and construction of the property, enabling the landlords to enhance its overall value and functionality. The collaboration between HY Ventures, Atlas Real Estate Partners, and Wedgewood Avenue, along with the representation of Keith Kurland, Michael Diaz, and Sean Reimer from Walker & Dunlop, facilitated the successful completion of the deal.
On the Map
$53,000,000
Mixed-use
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Players
Nashville-Davidson 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
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93