GrayCo obtained a $34 million refinancing for the Bristol Park at Riverchase, a 300-unit apartment complex in Madison, TN, not far from Nashville.

BWE’s Charles DuBose and David Foulk originated the financing from Fannie Mae on behalf of GrayCo. The loan has a seven-year term and interest-only payments for the life of the loan. 

“GrayCo wanted to take advantage of a dip in interest rates to get out from underneath a floating rate loan and lock in cheaper, fixed-rate financing, as well as recapture a significant amount of equity they had tied up in this asset,” said DuBose.

Located at 100 Riverchase Boulevard, Bristol Park Apartments offer residents a wide variety of amenities, including a fitness center, sand volleyball court, pool, business center, pet play area, and more. The property includes a mix of one-, two-, and three-bedroom units, and the apartments have amenities including built-in home offices, fireplaces, and attached garages. 

CBRE has secured $38.5 million in construction financing for the development of Village Green, a new 90,525-square-foot shopping center in Nolensville, Tennessee. 

Richard Henry, Mike Ryan, Brian Linnihan, and Taylor Crowder with CBRE Capital Markets’ Debt & Structured Finance represented the borrower, Watkins Real Estate Group. The construction loan was sourced through ServisFirst Bank. 

Village Green will be located 18 miles south of downtown Nashville on a 16.98-acre site at the intersection of Nolensville Road and Rocky Fork Road. The shopping center will include nine buildings and be anchored by Publix grocery store. 

Watkins is an Atlanta-based, family-owned, full-service real estate development and management firm focused on commercial, retail and multi-family properties throughout the Southeast. Since inception, Watkins Real Estate Group has developed 4.7 million square feet of retail including over 50 projects anchored by Publix Super Markets and over 11,000 multifamily units.

Thompson Thrift Residential has sold Oakbrook Townhomes, an 89-unit build-to-rent community in Nashville’s suburb of Franklin, Tenn. Public records suggest the buyer, Arqitel, paid $44 million for the asset, nearly $500,000 a unit. Commercial Edge reports the sale involved a $19.8 million loan from State Farm Life Insurance Co. Walker & Dunlop brokered the transaction.

When the property was sold, the community was 91% occupied. Located at 1000 Legion Drive, the 6-acre property is near Interstate 65, roughly 17 miles south of downtown Nashville.

Completed last March, Oakbrook Townhomes comprises 18 buildings with two-, three- and four-bedroom floorplans ranging from 1,473 to 2,165 square feet. Residences feature private patios or balconies and attached two-car garages. Amenities include a heated swimming pool, spa, 24-hour fitness center, dog park and grilling stations.

For this year, Thompson Thrift is eyeing eight new residential developments. The firm also plans to expand in new markets in Georgia, Utah and Idaho.

Land Innovations and Rochford Realty are planning a 27-acre mixed-use development in Nolensville, just south of Nashville. Nolensville has experienced rapid growth in recent years. The city’s population has grown from 2,000 to more than 15,000 people since 2000.

The Nashville Business Journal reports the Nolensville Town Square will feature 70,000 square feet of retail, restaurant and office space across multiple buildings that will surround a central square. The development will offer 404 residential units including studio, one- and two-bedroom apartments, as well as two- and three-story townhomes.

The town square project team includes local firms Smith Gee Studio, landscape architecture firm HDLA and civil engineering firm CSDG.

The first phase of Nolensville Town Square will break ground this summer. The final development, which is comprised of three phases, is expected to be finished in late 2028.

Korea-based LG Chem has started work on the company’s 420-acre site in Clarksville, northwest of Nashville. LG Chem is investing $3.2 billion to build factories to make cathode material for batteries that will power electric vehicles. The cathode is a compound consisting of nickel, cobalt, manganese and aluminum. They hope to make enough to power 600,000 all-electric vehicles at a charge distance of more than 300 miles.

LG Chem’s investment is the largest investment by a foreign company in Tennessee history. The company expects to hire 860 workers over several years. Wages start at $24 an hour, and 200 jobs will pay $100,000 or more a year.LG Chem is spending half of its $3.2 billion in an initial round of construction. Production is set to begin in 2026. The plant will be built by JE Dunn Construction Co.

Another historic office structure with good bones has been picked up for a likely conversion to apartments. The Samaroo Group purchased the downtown Nashville’s Morris Memorial building. The Nashville Business Journal reports the iconic four-story structure on MLK Boulevard sold for $6 million.

The 0.38-acre property once was the site of the city’s largest slave-trading business. Decades later, the National Baptist Convention commissioned the construction of the building in 1922. They’ve held it since then.

Samaroo properties in Nashville include The Brownstone’s, a residential condo community; The Lofts, a rental community, the Student Apartments and the The Commons, a shopping and dining option.

Numerous developers have purchased old brick mills and stone warehouses to turn into either office, residential or retail options.