PMG, New Valley & RMWC Secure $162M Construction Loan For Nashville Multifamily
915 Division Street, Nashville, Tennessee 37203, United States
$162,000,000
Units
502
Asset Type
MultiFamily
Closing
Sep 21, 2022
AI
The multifamily property located at 915 Division St in Nashville, TN has recently undergone a closed transaction involving a construction loan. The property consists of 502 units and is owned by PMG, New Valley & RMWC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $162,000,000
- Address: 915 Division St, Nashville, TN
- Market: Nashville, TN
- Lender: Square Mile Capital
- Landlord: PMG, New Valley & RMWC
- Loan Type: Construction loan
Square Mile Capital acted as the lender for this transaction, providing a construction loan amount of $162,000,000 to support the development or renovation of the multifamily property. This loan will facilitate the construction process and enable the owners, PMG, New Valley & RMWC, to enhance and improve the property for future residents.
Players
Nashville-Davidson 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
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93