Luxury Nashville Apartments Score $33M Loan
- May 28, 2020
TDK Construction has taken a $32.5 million refinancing package for Vintage Burkitt Station, a 244-unit luxury community southeast of Nashville, Tenn., according to Davidson County records. Walker & Dunlop provided the HUD note, which matures in 2060.
The loan pays down a construction loan of the same value, also originated by Walker & Dunlop through HUD, Yardi Matrix shows. The previous mortgage, from 2016, had a fixed interest rate of 3.82 percent and was set to amortize on a 40-year schedule.
Located less than 20 miles southeast of downtown Nashville at 13153 Old Hickory Blvd. in Antioch, Vintage Burkitt Station delivered in mid-2018. The Class A property’s unit mix has one- to three-bedroom apartments with floorplans ranging from 729 to 1,362 square feet. Amenities include a swimming pool, a pet park, valet garbage collection, a business center and garage rental options.
TDK’s new loan comes on the heels of another suburban Nashville refinancing deal. In late May, Capital One provided nearly $30 million for a 248-unit property owned by White Eagle Property Group.