Nashville-based real estate and hospitality firm AJ Capital Partners closed a $475 million construction loan for Belle Meade Village, a cosmopolitan retail and residential village located at the gateway to Belle Meade, Tennessee.
This financing supports the construction of both the retail and residential structures, as well as leasing and tenant improvement costs for the retail village. The loan closing continues significant momentum for the project, with 1 Iris Lane, The Residences at Belle Meade Village 40% pre-sold in under three months of opening sales, signaling strong market demand.
The loan was provided by Barings, one of the world’s largest diversified real estate investment managers. Raymond James Real Estate Investment Banking served as financial advisor and brokered the transaction on behalf of AJ Capital.
Set for completion in 2028, Belle Meade Village will transform an underutilized 15.5-acre shopping plaza into an iconicmixed-use site in Nashville. Belle Meade Village will bring together design-forward residential living, a mix of local and global retailers, and expansive green space in a way that is both distinctly new and celebrates Belle Meade’s local heritage.
At the heart of Belle Meade Village is 1 Iris Lane, made up of two boutique 46-residence buildings set amidst a five-acre private park, lush greenway, and cosmopolitan retail village. The intimate collection draws inspiration from the site’s equestrian history and iris namesake, with the interiors designed by Meyer Davis, a globally recognized firm with deep Nashville roots. Featuring one-to-four-bedroom homes with an average unit size of approximately 3,200 square feet and a starting price of $3 million, each residence is defined by its spacious layout and considered details to offer an unmatched residential lifestyle.
1 Iris Lane residents have access to over 16,000 square feet of amenity spaces and curated concierge services. Hospitality-minded amenities include a library, screening room, golf simulator, wine, whiskey, and cigar rooms, as well as entertainment spaces such as private Mahjong and Poker rooms. Wellness amenities include a state-of-the-art fitness facility, Pilates studio, sauna, spa, private saltwater pool with cabanas, cold plunge, salon, and private treatment rooms.
The retail town square, which encompasses seven buildings arranged around a central courtyard and anchored by an antique carousel, will include more than 40 storefronts featuring local and global retailers, a lineup of world-class restaurants and daily dining, a private members’ club, neighborhood services and wellness, and a boutique hotel.
AJ Capital commenced construction and project mobilization on Belle Meade Village in October 2025. In November 2025, excavation and blasting operations began, followed by deep foundations and crane installations in December 2025, marking steady progress into winter 2026. In addition to collaborating with Meyer Davis on 1 Iris Lane, AJ Capital is partnering with Hartshorne Plunkard Architecture and Nashville-based Hastings Architecture for architecture and design across the broader Belle Meade Village project. Additional local collaborators for the project include Hawkins Partners for landscape architecture and Barge Civil Associates for site planning, with Brasfield & Gorrie serving as general contractor.
