Walker & Dunlop, Inc. announced that it has arranged $105 million in loan proceeds to refinance 805 Lea, a 356-unit, Class-A high-rise mixed-use property located in Nashville, Tennessee.
Walker & Dunlop’s Real Estate Finance Senior Managing Director Stephen Farnsworth and his team arranged the loan on behalf of Key Real Estate Company. The financing, provided by Nuveen (a TIAA company), includes a three-year term with two optional 12-month extensions.
Built in 2021, 805 Lea is a 356-unit high-rise apartment community located on 0.691 acres in the heart of downtown Nashville. The property includes 10,203 square feet of ground-floor retail across three suites.
“Working with both an experienced financing team at Walker & Dunlop and sponsor at Key Real Estate allowed for a swift execution through a volatile market,” said Marc Roth, director of Real Estate Debt Originations at Nuveen Real Estate. “We’re excited about the opportunity to lend on a best-in-class and well-positioned tower in one of the fastest growing markets in the country.”
Ideally located between the Gulch and SoBro neighborhoods, 805 Lea offers residents walkable access to Nashville’s top dining, entertainment, and employment hubs. Positioned at the edge of the Central Business District and next to Music City Center, the property places over 10,000 jobs within walking distance. Just blocks from Broadway, Whole Foods, and the CMA Theater, it is steps away from some of the city’s most popular restaurants and cultural attractions.
“Nashville continues to stand out as one of the nation’s most attractive investment markets,” said Farnsworth. “The city’s diverse culture, high quality of life, and absence of a state income tax have drawn both Fortune 100 companies and a growing population of young professionals. With its resilient and diversified economy, we believe Nashville will continue to deliver strong fundamentals for years to come. We’re proud to work alongside Key Real Estate and Nuveen to ensure 805 Lea remains a cornerstone in this thriving community.”
Walker & Dunlop is one of the top providers of capital to the U.S. multifamily market; in 2024 the firm originated over $30 billion in debt financing volume, including lending over $25 billion for multifamily properties.
