Canyon Partners Real Estate & JP Morgan Chase Extend $174.6M Construction Loan For One22One Office Tower In Nashville
1221 Broadway Nashville, TN 37203, USA
$174,600,000
$467/SF
Building Size
373,232 SF
Asset Type
Office
Closing
Aug 30, 2023
About this deal
AI
One22One, a premium office tower located at 1221 Broadway in Nashville, Tennessee, has been recapitalized through a senior construction loan. The loan amount of $174,600,000 was jointly extended by Canyon Partners Real Estate and J.P. Morgan Chase to a partnership between GBT Realty Corporation and Koch Real Estate Investments.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $174,600,000
- Square Footage: 373,232 SF
- Address: 1221 Broadway, Nashville, TN
- Market: Nashville, TN
The lender for this transaction is Canyon Partners Real Estate and J.P. Morgan Chase, while the landlord is George Tomlin, representing GBT Realty Corporation and Koch Real Estate Investments.
It is important to note that the loan provided by Canyon Partners Real Estate and J.P. Morgan Chase is specifically for the purpose of recapping the One22One office tower, which has recently been completed in Nashville.
On the Map
$174,600,000
$467/SF
Office
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Players
Nashville Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93