Updated Oct 28, 2024
M2 Development Partners Secures $23M Pre-Development Loan In Nashville
500 Lafayette Street, Nashville, Tennessee 37203, United States
$23,000,000
Building Size
—
Asset Type
MultiFamily
Closing
May 22, 2022
About this deal
AI
The property involved in this closed transaction is a multifamily asset located at 500 Lafayette Street & 17th Avenue North and Patterson Street in Nashville, Tennessee. The property spans across an area of 1.14 acres.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $23,000,000
- Market: Nashville, Tenn.
- Loan Type: Pre-development
The lender for this transaction is Madison Realty Capital, represented by Josh Zegen. The loan amount for the deal is $23,000,000. The landlord involved in this deal is M2 Development Partners.
Players
Nashville-Davidson MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93