TriBridge Secures $42M Nashville Community Refi
- Jun 24, 2020
TriBridge Residential has obtained a $41.8 million refinancing package for The Griff, a 255-unit community in Nashville, Tenn. JLL provided the Fannie Mae loan, according to Davidson County records. The new note retires a $30 million construction mortgage which Cadence Bank originated in 2017, Yardi Matrix shows.
Located on 3 acres at 1390 Adams St. in the Germantown neighborhood, the property opened its doors last year. The unit mix has studio, one- and two-bedroom floorplans ranging from 589 to 1,251 square feet. The building has a 20,000-square-foot retail component at its base, and resident amenities include a gym, swimming pool, media room, coworking space, rooftop terrace and dog park. Situated on the banks of the Cumberland River, The Griff is 2 miles north of downtown Nashville.
In March, TriBridge finalized the $52.2 million acquisition of Village 21 and Belcourt Park, two communities totaling 177 units in Nashville’s Hillsboro Village, some 4 miles south of The Griff. Fidelity Life provided a $33.5 million loan for the purchase from GBT Realty.