Nashville Mixed-Use Development Lands Financing

Pinnacle Bank provided the developer with nearly $13 million in financing to convert a former lumber mill into an 80,000-square-foot office and retail property.
Silo Studios' development site
Silo Studios’ development site

Flyway has taken $12.8 million in construction financing from Pinnacle Bank for Silo Studios, an adaptive reuse of a lumber mill into an 80,000-square-foot office and retail property in Nashville, Tenn. According to public records, the loan matures in March 2022.

Conversion work on the 1952-built mill began earlier in March, according to Yardi Matrix data, with the project anticipated to wrap up by 2020. Dowdle Construction is the development’s general contractor, per the Nashville Post, with Southeast Venture providing architectural services.

Located at 5400 Centennial Blvd. in Nashville’s The Nations neighborhood, the 3.8-acre site is roughly 5 miles from the city center. The area is currently undergoing a significant facelift, with several multifamily properties under construction nearby. A number of other adaptive reuse projects are planned or underway in the area, including Sylvan Supply, another mill-to-office conversion 2 miles southeast.

In addition to the building’s creative office space, the development’s retail aspects may include a fitness center, restaurants, stores and a brewery. Southeast Venture’s J.C. Darby is leading leasing efforts for the property.

Image via Google Maps