Walker & Dunlop has arranged a $105 million refinancing loan for 805 Lea, a mixed-use high-rise in the heart of downtown Nashville.
The loan, secured on behalf of Key Real Estate Company, was provided by Nuveen, a TIAA company. The new financing package features a three-year term with the option for two additional 12-month extensions.
Completed in 2021, the 356-unit, Class-A property is a cornerstone of the Nashville skyline. In addition to its luxury apartment homes, 805 Lea includes over 10,000 square feet of ground-floor retail space. Residents benefit from a full range of high-end amenities, including a 29th-floor sky lounge, a saltwater pool, a fitness center, and 24-hour concierge service.
Strategically situated between the vibrant Gulch and SoBro neighborhoods, 805 Lea offers unmatched walkability. The property offers residents easy access to Nashville’s top dining, entertainment, and employment centers, with more than 10,000 jobs within walking distance. The location is just blocks from major attractions like Broadway, the CMA Theater, and the Music City Center.
Walker & Dunlop, a leading provider of capital to the U.S. multifamily market, leveraged its expertise to complete the transaction. In 2024, the firm originated over $30 billion in debt financing, with more than $25 billion dedicated to multifamily properties.
KEY QUOTES:
“Working with both an experienced financing team at Walker & Dunlop and sponsor at Key Real Estate allowed for a swift execution through a volatile market. We’re excited about the opportunity to lend on a best-in-class and well-positioned tower in one of the fastest growing markets in the country.”
Marc Roth, director of Real Estate Debt Originations at Nuveen Real Estate
“Nashville continues to stand out as one of the nation’s most attractive investment markets. The city’s diverse culture, high quality of life, and absence of a state income tax have drawn both Fortune 100 companies and a growing population of young professionals. With its resilient and diversified economy, we believe Nashville will continue to deliver strong fundamentals for years to come. We’re proud to work alongside Key Real Estate and Nuveen to ensure 805 Lea remains a cornerstone in this thriving community.”
Stephen Farnsworth
