$185MM Mixed-Use Loan Sale | Washington, DC
US - Washington, DC
€172,783,000 | 45,411 m²
Portfolio description
Jones Lang LaSalle Americas, Inc. (“JLL”), on behalf of Pearlmark (the “Sponsor”), is pleased to present an opportunity to invest in the recapitalization and development of The Sound at Music Row, located at 49 Music Square West ("49 MSW") and 900 18th Ave South ("900 Development", collectively "The Sound at Music Row" or the "Project") in Nashville, TN. 49 MSW is an existing 64,635 square foot, six-story, multi-tenant office building that is connected to a five-story parking garage via a skybridge. The Sponsor plans to redevelop the structure located at 900 18th Ave South by constructing a four-story, 137,414 square foot Class A office building on top of the existing parking garage. The Sponsor seeks to capitalize the +/- $100 million project with a 90% partner and a construction loan of approximately 60-65% of total cost.
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Attributes
Building Area
15,504 m²
Year built
1997
The Sound at Music Row (2 Properties)
The Sound at Music Row (2 Properties)
Media
Investment Highlights
- In-Place Cash Flow Supplements Adjacent Development
- Institutional Sponsorship With Proven Development Experience
- Sought-After Location Attracts & Retains A Diverse Tenant Base
- Future Office Demand Stemming From Nashville's Leading Job Growth
- Future Office Demand Supported By Affluent And Highly Educated Workforce
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Last updated
30 Nov 2022
