EJF Lands $80M Loan for Nashville Apartment Project
EJF Capital closed on an $80 million loan from Prime Finance for The Samara, a 377-unit, 5-story multifamily property located in Nashville’s Metrocenter neighborhood. The project is in a Qualified Opportunity Zone (QOZ).
The development features studio, 1-bedroom, and 2-bedroom units, along with a pool, co-working lounge, and a rooftop deck offering city views.
QOZs offer investors potential tax benefits to invest in specific neighborhoods with the aim of spurring economic growth in lower income areas. Certified under the Tax Cuts and Jobs Act of 2017 (“TCJA”), QOZs are located across all U.S. states and territories and designated by local and regional governments. EJF is an established QOZ investor, with a track record investing in over 24 multifamily and commercial developments of multi-family residential and industrial development projects in zones in the United States since 2018.
CBRE’s Nashville Debt & Structured Finance team of KO Kennedy, Cliff Joyner, David Zimmerman, William Bould, and Toy Allen arranged the transaction.
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80-Unit Seniors Housing Development Opens in Suburban Chicago
Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
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312-Unit Multifamily in Indiana Changes Hands
Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout