The Dinerstein Companies And Merus Secure $102.9 Million Refinance Loan From Heitman For Nashville Multifamily
1801 Patterson Street
$102,900,000
Units
277
Asset Type
MultiFamily
Closing
Feb 17, 2026
AI
The property involved in this transaction is Aspire Midtown, a multifamily asset located at 1801 Patterson Street in Nashville, TN. It consists of 277 apartment units and offers modern living accommodations along with amenities. The property is strategically situated close to downtown Nashville and the airport.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $102,900,000
- Lender: Heitman
- Landlord: The Dinerstein Companies & Merus
- Loan Type: Refinance
- Loan Date: 02/17/2026
The Dinerstein Companies and Merus secured a loan from Heitman for the refinancing of the property. This financial arrangement was specifically aimed at the 277-unit apartment community, enhancing its operational capacity while allowing the ownership to maintain its presence in the competitive Nashville market.
Players
Nashville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93