Ray & VeLa Development Partners Secures $147 Million Construction Loan For Multifamily At 601 Lafayette St

The property asset involved in this transaction is a multifamily asset located at 601 Lafayette Street in Nashville, TN. The total square footage of the asset is 329,000, comprising 367 units. The loan amount secured for this construction project is $147,000,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $147,000,000
• Address: 601 Lafayette Street
• Market: Nashville, TN
• Lender: Aaron Casden - JP Morgan & Matt Phillips - Monroe Capital
• Landlord: Ray & VeLa Development Partners
• Brokers: Sean Reimer, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Jordan Casella & William Herring - Walker & Dunlop

This transaction was facilitated by multiple individuals representing the brokerage firm Walker & Dunlop, which included Sean Reimer, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Jordan Casella, and William Herring. The loan is designated for construction purposes, underlining the development intentions for the multifamily property.