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JLL Raises $133.6 Million Financing for Multi-Residential Development in Nashville from Square Mile Capital

CHICAGO, September 15, 2022 – JLL Capital Markets announced today that it has secured $133.6 million construction financing for a Class A, 383-unit multi-housing development at 1815 Church St. in the Midtown neighborhood of Nashville.

JLL worked on behalf of 19th Church Street LLC, a joint venture of Ascend Real Estate Group and Wanxiang America Real Estate Group, to secure funding through Square Mile Capital Management LLC.

The 16-story building will feature studios, one- and two-bedroom units with European-style closets, quartz countertops, large kitchen islands, stainless steel appliances, full-sized washers and dryers, and an average size of 814 square feet. Community amenities include a coffee shop, state-of-the-art fitness center and yoga studio, large indoor entertainment area, gourmet chef’s kitchen, music and podcast studio, outdoor bar with televisions and bar chairs, courtyard with a pool, grill stations and fire pits, and private workrooms. In addition, 19th & Church will offer 6,000 square feet of retail space that will provide various services and products to the apartment residents and the neighborhood in general.

19th & Church’s Midtown location offers residents walking distance to Nashville’s largest employers such as HCA, Vanderbilt University and Medical Center, Ascension St. Thomas Hospital, Deloitte, BMI, and Caterpillar. Residents will be close to over 200 unique bars/speakeasies, highly regarded restaurants and local coffee shops, as well as over 35 live music venues and nightclubs. The property also offers quick access to Interstate 40.

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The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Director Chris Knight.

David Greenburg, head of Square Mile Capital, commented, “Nashville’s vigorous economic growth has fueled strong demand for quality housing. Strategically located in the city’s thriving Midtown area, this project will help meet that demand. We are very pleased to have the opportunity to participate by providing the construction financing to get the project started.”

JLL Capital Markets is a global full-service provider of capital solutions for real estate investors and occupiers. Its in-depth knowledge of the local market and global investors delivers the best solutions for clients, be it investment and sales advice, debt advice, equity advice or a recapitalization. The company has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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