Dealmaker: Walker & Dunlop Arranges $105M to Refinance Nashville Property

(Photo credit: Key Real Estate Co., via Walker & Dunlop)

Walker & Dunlop, Bethesda, Md., arranged $105 million in loan proceeds to refinance a Class-A high-rise mixed-used property in Nashville, Tenn.

Walker & Dunlop’s Real Estate Finance Senior Managing Director Stephen Farnsworth and his team arranged the loan on behalf of Key Real Estate Co. The financing was provided by Nuveen (a TIAA company) and includes a three-year term with two optional 12-month extensions.

The property, 805 Lea, was built in 2021 and contains 356 units. It also has 10,203 square feet of ground-floor retail and numerous amenities for residents.

“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.”