Big Plan Holdings Secures $61M Construction Loan For Nashville Bar/Restaurant Project
405 Broadway
$61,000,000
$1,648/SF
Building Size
37,000 SF
Asset Type
Retail
Closing
Dec 22, 2023
AI
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].
Players
Nashville Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93