PGIM, Stiles, And Hensler Development Group Secure $310 Million Bridge Loan From Blackstone For Peabody Union

The property asset involved in this transaction is Peabody Union, a mixed-use development situated at 30 & 50 Peabody Street in Nashville, TN. The total asset size is 665,000 square feet and includes 355 residential units, a 249,988-square-foot office building leased to Starbucks for its eastern headquarters, and 52,735 square feet of retail space. The loan amount secured for this project is $310,000,000 under a bridge loan structure with a term of three years.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $310,000,000
• Loan Type: Bridge
• Loan Terms: 3-year
• Address: 30 & 50 Peabody Street
• Market: Nashville, TN
• Asset Size: 665,000 SF
• Lender: Tim Johnson - Blackstone
• Landlords: Jacques Chappuis - PGIM, Kenneth Stiles - Stiles, Hensler Development Group
• Brokers: Kelsey Bawcombe, Ed Coco, Paul Stasaitis, Matthew Casey, Anthony Sansone & Streeter Simmons - JLL

This transaction involves multiple key individuals and companies. Jacques Chappuis represents PGIM, Kenneth Stiles is associated with Stiles, and Hensler Development Group also plays a role as landlords. The loan acquisition was negotiated by the brokers from JLL, including Kelsey Bawcombe, Ed Coco, Paul Stasaitis, Matthew Casey, Anthony Sansone, and Streeter Simmons. The financing includes two one-year extension options for additional flexibility.