Southwest Nashville Office Asset Lands $15M Refi
- Jul 31, 2020
A private investor has taken a $15 million loan from Southern Farm Bureau Life Insurance Co. for Belle Meade Office Park in Nashville, Tenn., public records show. Set to mature in 2027, the financing retires an existing $15 million loan from Truxton Trust Co. for the 124,000-square-foot facility. Yardi Matrix data shows the owner spent $14.7 million to acquire the asset from TA Realty in 2001.
Located at 4525 Harding Pike, the asset is near two grocery-anchored shopping centers, 5 miles southwest of downtown Nashville. On the northern edge of Belle Meade, Tenn., the property is half a mile from the Saint Thomas West Hospital.
Completed in phases in 1974 and 1984 on a 6.3-acre site, the three-story building includes floor plates ranging from 8,016 to 17,472 square feet and 744 parking spots. The tenant roster includes myriad service-based firms, from medical practices to law offices.
In March, TA Realty closed a $1.2 billion fund. The value-add investment vehicle will target industrial, office, multifamily and grocery-anchored shopping centers in leading markets across the U.S.