Nashville Community Receives $22M Freddie Mac Refi

The note replaces a $21.7 million acquisition loan provided by Greystone in 2019.
Edge Midtown

Spyglass Capital Partners has taken a $22 million refinancing package for Edge Midtown, a 146-unit Class B community in Nashville, Tenn. Greystone originated the Fannie Mae loan, according to Davidson County records.

The new note retires a $21.7 million acquisition loan from the same lender. In October 2019, LaSalle Investment Management sold the property for $33.7 million, Yardi Matrix data shows.

Located on 1 acre at 301 22nd Ave. N., the seven-story building was completed in 2015. The unit mix has studio, one- and two-bedroom floorplans ranging between 396 and 1,341 square feet. The amenity package includes a rooftop swimming pool, fitness studio, business center, media room and clubhouse.

The community is a short distance from Vanderbilt University, TriStar Centennial Medical Center and Ascension Saint Thomas Hospital Midtown. Additionally, the site is within 2 miles of Tennessee State University, Interstate 40 and downtown Nashville.

In December, Greystone provided more than $95 million in Freddie Mac loans for three communities in Illinois, Pennsylvania and Virginia. Managing Director Dan Sacks originated the three notes.