JLL Capital Markets announced that it has closed the $133.6 million construction financing of a Class A, 383-unit multihousing development at 1815 Church St. in Nashville’s Midtown neighborhood.
JLL worked on behalf of 19th Church Street LLC, a joint venture of Ascend Real Estate Group and Wanxiang America Real Estate Group, to secure the financing through Square Mile Capital Management LLC.
The 16-story building will feature studio, one- and two-bedroom units with European-style cabinetry, quartz countertops, large kitchen islands, stainless steel appliances, full-size washers and dryers and an average size of 814 square feet. Community amenities will include a coffee bar, state-of-the-art fitness center and yoga studio, a large indoor entertainment room, a gourmet chef’s kitchen, a music and podcast studio, an outdoor bar with televisions and bar seating, a courtyard with a pool, grilling stations and firepits and private work rooms. Additionally, 19th & Church will offer 6,000 square feet of retail that will provide various services and products to the apartment residents and the neighborhood at large.
19th & Church’s Midtown location offers residents walkability to Nashville’s largest employers, such as HCA, Vanderbilt University and Medical Center, Ascension St. Thomas Hospital, Deloitte, BMI and Caterpillar. Residents will be proximate to over 200 unique bars/speakeasies, highly rated restaurants and local coffee shops, as well as over 35 live music venues and nightclubs. The property also provides quick connectivity to Interstate 40.
The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Chris Knight.
Square Mile Capital Principal David Greenburg commented, “Nashville’s powerful economic growth has created strong demand for quality housing. This project, strategically located in the city’s thriving Midtown area, will help to address that demand. We are very pleased to have the opportunity to participate by providing the construction financing to enable the project to get underway.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
