Woodfield Development, a top 20 NMHC top developer of multifamily communities, has secured a $53.7 million senior loan for Margaux Midtown, a luxury apartment community in Nashville, Tennessee.
Financing was provided by the BWE’s proprietary bridge program and was structured by Adam Bieber and Alec Jenkins from BWE’s Washington, D.C. office.
“On behalf of Woodfield and our partners, we are thrilled with the financing and structure for our Margaux Midtown development,” shared Woodfield founding partner Greg Bonifield. “This loan will provide us the necessary flexibility to play offense as the capital markets transform over the next few years. We are very appreciative of our relationship with BWE, but we would be remiss if we did not thank all of our team members who made this financing happen.”
Margaux offers 292 elegant apartment homes featuring thoughtful, top-of-market finishes, including stainless steel appliances, granite or quartz countertops, full-size energy-efficient washers/dryers in each unit, hardwood-style plank flooring, and more. Residents also have access to a full suite of unique community amenities, such as a state-of-the-art fitness center, a clubroom with mini duck bowling, a private yoga room, dedicated work pods, complimentary coffee, a sky lounge and rooftop terrace, a speakeasy with a performance stage, a resort-style swimming pool, a podcast room, and more.
“The current environment has created challenges and opportunities for Sponsors and capital sources alike,” said Adam Bieber, senior vice president of BWE. “Our long-term history with Woodfield provided us the model sponsorship that we target for our new BWE bridge fund. We thank them for their trust and confidence in executing on their behalf on this important transaction.”
Conveniently located in Midtown, Margaux is at the nexus of three of Nashville’s most vibrant neighborhoods: the Gulch, Music Row, and West End. Residents enjoy walkable access to many of Nashville’s most popular cultural, entertainment, dining, nightlife, and shopping destinations. Margaux is also less than two blocks away from Interstates 40 and 65, Broadway, and Charlotte Avenue, offering an excellent commuter location approximately one mile from Vanderbilt University, Vanderbilt University Medical Center, and the HCA Healthcare headquarters.
