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Santander Bank Provides $53M Construction Financing For 700 Hamilton Ave Mixed-Use Development In Nashville, TN

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FINANCED
$53,000,000

Tennessee

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Mixed-use
Financed 08/08/2022
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Property Image
FINANCED

Santander Bank Provides $53M Construction Financing For 700 Hamilton Ave Mixed-Use Development In Nashville, TN

700 Hamilton Avenue, Nashville, Tennessee 37203, United States

See Similar Deals
Mixed-use
Financed 08/08/2022
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Summary

TENNESSEE
Asset Type:Mixed-use
Transaction Type:Loan

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.

Players

Keith Kurland
170 deals$29.1B volume
BROKER

Michael Diaz
Walker & Dunlop
37 deals$4.1B volume
BROKER

LANDLORD

Details

FINANCED
IMAGE: Keith Kurland, Sean Reimer & Michael Diaz DATE: 08/08/2022 ADDRESS: 700 Hamilton Ave MARKET: Nashville, TN ASSET TYPE: Mixed-use ~ UNITS: 246 ~ ACRES: 15,000 LENDER: Santander Bank LANDLORD: HY Ventures, Atlas Real Estate Partners & Wedgewood Avenue BROKERS: Keith Kurland, Michael Diaz & Sean Reimer - Walker & Dunlop LOAN AMOUNT: $53,000,000 LOAN TYPE: Construction financing

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$53,000,000.00

Monthly NOI$353,333.33
Monthly Debt Service$334,996.05
Change in Cash Flow$0.00
Refinance Proceeds$0.00