Canyon Partners Real Estate and JPMorgan originated a $174.6 million loan on behalf of GBT Realty Corporation and Koch Real Estate Investments, which will be used to recapitalize One22One, a newly built trophy office tower in Nashville. JLL Capital Markets arranged the financing.
The class A, 24-story building comprises 373,232 square feet of office space and another 16,938 square feet of retail space. There are an additional 930 parking spaces in the downtown Nashville property.
George Tomlin, president and chief executive of Brentwood, Tennessee-based GBT Realty, said the property is coming online at a time when Nashville is seeing demand for well-located, modern office spaces. “We are looking forward to positioning the property to take advantage of rising demand and provide the workspaces and amenities that today’s companies are seeking in a post-pandemic environment.”
The property is in the city’s Nashville’s Gulch submarket, close to Music Row and Vanderbilt University. Canyon Partners Real Estate has been an active provider of debt and equity in the Southeast, investing about $2 billion of debt and equity in roughly $6.2 billion of projects in the region.