CBRE Capital Markets’ debt and structured finance team secured a bridge loan to refinance Aertson Midtown, a newly built, 17-story mixed-use development located immediately adjacent to Vanderbilt University in Nashville, Tennessee.
Shawn Rosenthal, executive vice president, and Jason Gaccione, senior vice president, of CBRE’s Midtown Manhattan office secured the two-and-a-half-year loan with extension options on behalf of Buckingham Companies, an Indianapolis-based full-service real estate firm. The non-recourse, floating-rate loan was funded by TPG Real Estate Finance Trust.
Aertson Midtown consists of 350 Class-A apartment units, a 180-room boutique hotel managed by Kimpton, a 635-space structured parking garage and nearly 40,000 square feet of retail, which includes three restaurants, a spa, an upscale grocer and a bank.
Buckingham is in its final stage of completing construction, with initial delivery anticipated in the third quarter of 2017.
