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Big Plan Holdings Secures $61M Construction Loan For Nashville Bar/Restaurant Project

Property Image
FINANCED
$61,000,000

Tennessee

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Retail37,000 SF
Financed 12/22/2023
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Property Image
FINANCED

Big Plan Holdings Secures $61M Construction Loan For Nashville Bar/Restaurant Project

405 Broadway

See Similar Deals
Retail37,000 SF
Financed 12/22/2023

Summary

TENNESSEE
Asset Type:Retail
Price Per Square Foot:$1,648
Total Square Footage:37,000 SF
Transaction Type:Loan

The Nashville-based family office, Big Plan Holdings, has closed a $61,000,000 construction loan for its 36,767 sq. ft bar/restaurant/entertainment venue development located at 405 Broadway in downtown Nashville. This property was previously acquired by Big Plan Holdings in 2020 for $9,400,000. The development is expected to open in late spring and will feature a branded concept with an A-list celebrity partner soon to be announced.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $61,000,000
  • Square Footage: 37,000
  • Address: 405 Broadway
  • Market: Nashville, TN

Big Plan Holdings, owned and operated by the Joseph family, is the landlord of the property. They are a family office with investments in various industries such as real estate, cannabis, music + entertainment, sports, fashion, and philanthropy. For further information, interested parties can contact Big Plan Holdings at [email protected].

Details

FINANCED
IMAGE: Josh Joseph DATE: 12/22/2023 ADDRESS: 405 Broadway MARKET: Nashville, TN ASSET TYPE: Retail ~ SF: 37,000 LANDLORD: Josh Joseph - Big Plan Holdings LOAN AMOUNT: $61,000,000 LOAN TYPE: Construction NOTE FROM LANDLORD: The Nashville-based family office, Big Plan Holdings, recently closed a $61,000,000 construction loan to complete its 36,767 sq. ft bar/restaurant/entertainment venue development at 405 Broadway in downtown Nashville. Big Plan Holdings acquired the land in 2020 for $9,400,000 and has since landed an A-list celebrity partner for the branded concept which will be announced soon. The concept is expected to be open in late spring. About Big Plan Holdings: Big Plan Holdings is the family office owned and operated by the Joseph family. Businesses and investments are held in a wide range of industries including real estate, cannabis, music + entertainment, sports, fashion, and philanthropy. Contact Big Plan Holdings at [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$61,000,000.00

Monthly NOI$406,666.67
Monthly Debt Service$385,561.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00