FINANCED
Somera Road Secures $71M Construction Loan For Paseo South Gulch Mixed-Use Development In Nashville
620 8th Avenue South
Mixed-use
231,723 SF
231,723 SF
Summary
Loan
TENNESSEE
Mixed-use
231,723 sqft
The Paseo South Gulch in The Gulch, Nashville is a mixed-use property with a total area of 231,723 square feet. The address of the property is 620 8th Avenue S.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $71,000,000
- Lender: S3 Capital Partners - Robert Schwartz
- Ground Lessor: Safehold
- Developer / Ground Lessee: Somera Road – Ian Ross, Jon Reeser & Andrew Donchez
- Brokers: Aaron Appel, Michael Diaz & Michael Ianno - Walker & Dunlop
- Loan Type: Construction Loan
The loan for the Paseo South Gulch property was provided by S3 Capital Partners, with Robert Schwartz representing the lender. The ground lessor is Safehold, and the developer/ground lessee is Somera Road. The deal was brokered by Aaron Appel, Michael Diaz, and Michael Ianno from Walker & Dunlop. The loan amount for the deal was $71,000,000 and it is a construction loan. It is worth noting that Paseo South Gulch will feature 278 multifamily units with ground floor retail.
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Details
FINANCED
IMAGE: Robert Schwartz, Aaron Appel, Ian Ross, Michael Diaz, Andrew Donchez, Michael Ianno & Jon Reeser
DATE: 02/07/2022
ADDRESS: 620 8th Avenue S.
MARKET: The Gulch, Nashville
ASSET TYPE: Mixed-use ~ SF: 231,723
LENDER: S3 Capital Partners - Robert Schwartz
GROUND LESSOR: Safehold
DEVELOPER / GROUND LESSEE: Somera Road – Ian Ross, Jon Reeser & Andrew Donchez
BROKERS: Aaron Appel, Michael Diaz & Michael Ianno - Walker & Dunlop (@WalkerDunlop)
LOAN AMOUNT: $71,000,000
LOAN TYPE: Construction Loan
NOTE FROM LENDER: Paseo South Gulch will have 278 multifamily units with ground floor retailView on map
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Address620 8th Avenue South
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