Tidal Real Estate Obtains $120M for Nashville High-Rise
The 380-unit luxury community came online last year.
Tidal Real Estate Partners, formerly known as Flank, has obtained $120 million for the refinancing of 1111 Church St., a 380-unit luxury community in Nashville, Tenn. J.P. Morgan issued the senior note, while Naftali Credit Partners, a subsidiary of Naftali Group, provided a mezzanine loan. Walker & Dunlop arranged both deals.
Proceeds will replace the existing construction loan and provide bridge financing to a sale or permanent financing.
The 20-story tower came online last year. Partners on the project included structural engineer Structural Design Group, architecture firm ESa, landscape architect Hawkins Partners and general contractor Yates Construction.
Walker & Dunlop Capital Markets Senior Managing Directors Keith Kurland, Aaron Appel, Jonathan Schwartz and Adam Schwartz, together with Managing Director Michael Diaz and Senior Director Michael Ianno worked on behalf of the borrower.
A vibrant community in downtown Nashville
The Class A community comprises one- and two-bedroom floorplans, ranging from 583 to 1,265 square feet, along with 45,000 square feet of retail space and 52,000 square feet of indoor and outdoor amenities. Units feature quartz countertops and private balconies or patios in select layouts.
Common-area amenities include a fitness center, business center, clubhouse, swimming pool and lounge deck with cabanas and barbecue area, tennis and pickleball court, golf simulator and lounge. Additionally, the building has sauna and steam rooms, social lounge spaces, resident library, gaming lounge, coworking area and EV charging stations.
The tower is in the North Gulch neighborhood of downtown Nashville, close to a host of dining and retail options. Nashville International Airport is less than 9 miles away, while Broadstone Berry Hill, a 303-unit luxury property that recently opened, is some 3 miles southeast.
