The 19th Church Street LLC joint venture of Ascend Real Estate Group and Wanxiang America Real Estate Group has obtained $133.6 million in construction financing for the development of 19th & Church, a new property in Nashville, Tenn.’s Midtown enclave. JLL Capital Markets secured the financing via Square Mile Capital Management LLC.
Rising at 1815 Church St., the 16-story, 383-unit development will offer studio, one- and two-bedroom apartments with an average size of 814 square feet.
Unit features and finishes will include quartz countertops, European-style cabinets, large kitchen islands, stainless steel appliances and full-size washers and dryers. An outdoor bar with TVs and bar seating represents one of the primary common-area amenities of the property. The community will also offer 6,000 square feet of retail.
Nashville’s Midtown community is bordered by downtown, Music Row, West End and Hillsboro Village and is adjacent to Vanderbilt University. Its proximity to an array of appealing Nashville enclaves has helped increase its popularity in recent years. Future residents of 19th & Church will benefit from walkable distances to many of Music City’s major employers. They include HCA, Vanderbilt University and Medical Center, Ascension St. Thomas Hospital, Deloitte, BMI and Caterpillar.
In addition, residents will enjoy convenient connectivity to Interstate 40. Nearby, they will find more than 35 live music venues and nightspots, as well as 200 unique bars, eateries and coffee shops. The JLL Capital Markets Debt Advisory team representing the borrower was overseen by senior director Chris Knight. Last month, Chartwell Residential broke ground on a pair of new apartment communities in Nashville.