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JPMorgan Chase & Co. is consolidating its workforce into a new space at Broadwest, a 600,000-square-foot mixed-use project in Nashville.  The Nashville Business Journal reports that the 51,000-square-foot space will include a new client center with twice the capacity of its current space, flexible workspaces, access to on-site amenities, and capacity for up to 280 employees across two floors, with room for continued growth. The new space will be open to JPMorgan Chase employees starting in early 2028.

The office will feature J.P. Morgan signage at the top of a Nashville building for the first time.

Brie Bley of CBRE represented JPMorganChase and Bill Adair and Ashley Marshall represented Propst Companies in the transaction.

Opening in 2021, the Broadwest development also includes a 34-story condo tower, the 234-room Conrad Nashville hotel and 125,000 square feet of retail and restaurant space.

The bank has 500 employees across the state, with nearly 400 employees in the Greater Nashville area.

Lone Star Funds has abandoned 55 Allen Plaza to avoid foreclosure.

Phoenicia Real Estate Holdings took title to the 14-story, 350,000-square-foot building through a deed in lieu of foreclosure. The deal was valued at $57.8 million. Phoenicia is a subsidiary of Aflac Inc. Aflac Global Investments. The Atlanta Business Chronicle reported that Lone Star acquired the Property in 2020 for $79 million, using $67.5 million in acquisition financing provided by NXT Capital. 

The office building is part of the Allen Plaza mixed-use project, which is 66% occupied. Its major tenants include EY and design firm ASD|SKY. Selig Enterprises maintains air rights for 55 Allen Plaza, and a new owner will have to make lease payments.

Dominion Realty Partners of Raleigh has submitted plans for the first phase of its Salisbury Square project, which is across from the Martin Marietta Center for the Performing Arts. The plans show a 7-story residential building with a connected parking deck.

The residential mid-rise tower will have 545 units, with an average size of 856 square feet per unit. The Triad Business Journal reports that Dominion Realty originally planned a 20-story mixed-use tower (photo) with 304 apartments, office and retail space for phase one but changed plans due to uncertainty in the office sector and financial markets.

For Salisbury Square, amenities for the 7-story building will include three courtyards, a swimming pool, club room, game room, fitness center and sky deck and lounge on the seventh floor.

In 2022, Dominion Realty acquired the site at 700 S. Salisbury St. for $35.5 million. An office building on the site was torn down in 2023 to make way for the development.

IPA Capital Markets (a division of Marcus & Millichap (NYSE: MMI)) and Green Harbor Capital secured $18 million in financing for the $32 million acquisition of a 31-story Class A office building located at 121 W. Trade Street in Charlotte.

Bobby Werhane in the firm’s Charlotte office and Griffin Dunaway, principal at Green Harbor Capital, secured the financing with a local credit union on behalf of New England Investment Properties.    

Terms of the 5-year loan include a 6.625% interest rate with a 25-year amortization period, a loan-to-value of 65% and no prepayment penalty. 

The property totals 334,368 rentable square feet and is located next to Tyron Street Station. Retail amenities include Reid’s Fine Foods, Charlotte City Club, and a barbershop. The property also features a common building wellness room and podcast studio, a tenant hub with a training room, conference room and lounge, and recently renovated common areas on the upper floors.

SouthState Bank leased 87,000 square feet at the 19-story Prominence building, making it the building’s largest tenant. That means it gets to plaster its name on the top of the building.

The Atlanta Business Chronicle reports that Prominence, the tower at Piedmont and Lenox roads, was completed in 1999 and has, over the years, supplied space to Marsh & McLennan, Wells Fargo Insurance and GE Digital.

Earlier this year, SouthState said it would acquire Texas-based Independent Bank Group Inc. for $2 billion, creating a combined bank with $65 billion in total assets.

In Atlanta, SouthState ranks ninth in deposit market share with $8.2 billion of deposits as of June 30. It has 44 branches in Georgia.

JLL’s Josh Hirsh and Patrick Baughman represented SouthState in the deal. 

Waterton has paid $118.6 million for the 33-story residential tower, 903 Peachtree. CA Ventures was the seller of the building, which came out to $277,751 per unit

The highrise has studio, one-bedroom, two-bedroom and three-bedroom units, ranging from 336 to 1,884 square feet. Rents start at $1,680 for a studio and go up to more than $4,000 for a three-bedroom floor plan. 

The building opened in 2023. It is located near the intersection of Peachtree and 8th streets.

Waterton was founded in 1995. The firm’s portfolio includes about $10 billion in real estate assets, with a presence in more than 25 markets across the U.S. Waterton is headquartered in Chicago, with regional offices around the country.

The Atlanta Business Chronicle reports so far, the largest multifamily transaction this year is Equity Residential’s buy of a 319-unit apartment project in Old Fourth Ward for $126 million. 

Capital Square will open its 20-story mixed-use building at the corner of Dawson and Lenoir streets near Red Hat Amphitheater in February 2025. The tower, named Maeve, has 297 apartments,10,500 square feet of ground-floor retail and an 8-level parking deck.

The units are mostly studio, one and two bedrooms with a handful of three-bedroom apartments on the top floor.

The tower amenities include a residential lounge, fitness center, coworking lounge, private work pods, shared conference room, pet spa and rooftop lounge on the 20th floor. The eighth floor has an outdoor amenity space with a zero-edge swimming pool, grilling stations, fire pits, cabanas, loungers and an outdoor bar area.

The Triangle Business Journal reports that the development’s construction cost was more than $110 million. Part of the development was funded by Capital Square’s CSRA Opportunity Zone Fund VI, with the construction loan provided by First National Bank.

The retail space has room for four retailers, including two full-service restaurants.

Two real estate investment firms have teamed up to buy The 410, a 24-story office building located in the heart of Downtown Denver. Cress Capital, in collaboration with Denver-based E2M Ventures, acquired the loan on the property earlier this year and subsequently negotiated a deed-in-lieu of foreclosure with the prior owner, Ares Management. With an original balance of $113 million, the loan’s unpaid balance was $96.2 million.

Situated at 410 17th Street, the property underwent a major renovation in 2021 and includes approximately 440,000 square feet of office space and a detached eight-story parking structure.

Located within blocks of the Colorado State Capitol, the property features a contemporary lobby and an array of premium amenities, including a state-of-the-art fitness center, conference and training facilities, an inviting outdoor tenant lounge, and the Little Owl Coffee Bar. Nearly 35,000 square feet of spec suites are ready for immediate occupancy.

Naftali Credit Partners and J.P. Morgan provided a short-term bridge loan of $120 million to Tidal Real Estate Partners. The loan finances 1111 Church Street, a 25-story luxury multifamily and retail development in Nashville.  

The $120 million loan, consisting of a senior loan from J.P. Morgan and a mezzanine loan from Naftali Credit Partners, will be used to refinance the existing construction loan and provide bridge financing to a sale or permanent financing.

Located in the North Gulch neighborhood of Downtown Nashville, 1111 Church Street features 380 rental units ranging from studios to two-bedroom residences. It also features over 52,000 square feet of indoor and outdoor lifestyle amenities, dedicated parking, and over 45,000 square feet of retail space. 

Naftali Credit Partners says it lends on projects requiring flexible capital in illiquid market segments that traditional banks are less likely to finance due to increased regulation, transaction complexity or execution requirements better suited for an integrated real estate firm.

Phoenix’s CRE industry leaders and power players are connecting at Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at The Westin Kierland Resort & Spa. Don’t miss getting expert insights into where the local housing and job markets are headed, and what changes are on the horizon. Register Now!

Hall Emery and Woodfield Development are planning a 22-story high-rise apartment building at the Music Row roundabout. The Nashville Business Journal reports the project will be referred to as Demonbreun Hill and include 333 units with 10,000 square feet of street-level retail.

The Midtown site, which faces both 16th Avenue South and Demonbreun Street, is 0.59 acres of Hall Emery’s larger 3.4-acre site that it bought for $56 million last year. The buildings contained in that sale include Music Row attractions like Tin Roof and Live Oak. The tower is expected to break ground in the third quarter of this year for completion in early 2027.

Hall Emery is responsible for developing Midtown office buildings at 17th & Grand and 18th & Chet. Hall Emery focuses on acquiring and developing office, multi-family residential, industrial, and mixed-use assets throughout the southeastern United States.