{"id":1004204380,"date":"2018-01-19T09:12:03","date_gmt":"2018-01-19T17:12:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004204380"},"modified":"2022-12-07T21:44:03","modified_gmt":"2022-12-08T05:44:03","slug":"aj-capital-lands-27m-loan-for-nashville-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/aj-capital-lands-27m-loan-for-nashville-project\/","title":{"rendered":"AJ Capital Receives $27M Loan for Nashville Project"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004204427\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/May-Hosiery.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004204427\" data-attachment-id=\"1004204427\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/aj-capital-lands-27m-loan-for-nashville-project\/may-hosiery\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/May-Hosiery.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"May Hosiery &#8211; Exterior Rendering\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;May Hosiery &#8211; Exterior Rendering&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/May-Hosiery.jpg?w=800\" class=\"wp-image-1004204427 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/May-Hosiery.jpg\" alt=\"May Hosiery - Exterior Rendering\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/May-Hosiery.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/May-Hosiery.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/May-Hosiery.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004204427\" class=\"wp-caption-text\">May Hosiery &#8211; Exterior Rendering<\/p><\/div>\n<p>LoanCore Capital has provided a $26.7 million, two-year, floating-rate construction loan to AJ Capital Partners to finance the conversion of a former factory in Nashville, Tenn., into a mixed use property. The project\u2019s six buildings, which are planned to include 80,000 square feet of office and 40,000 square feet of retail, are 47 percent preleased. A number of tenants are expected to move into the property this year, according to <em>The Tennessean<\/em>.<\/p>\n<p>Located at 425-431 Chestnut St. and 510 Houston St., the development sits between Interstate 65 and Tennessee Route 11 in Nashville\u2019s Wedgewood Houston neighborhood. Construction\u00a0is underway at the former home of May Hosiery, a sock manufacturer which closed its mill\u2019s doors in 1980. The project was designed by Dryden Architecture and Design, and Concord Building Group is acting as the general contractor. The building\u2019s future tenants include Tuck-Hinton Architects, Southcomm Media, Parson\u2019s Chicken and Fish, Dream Technologies, and Blockhouse Barbers.<\/p>\n<p><em>\u201cThe May Hosiery project is well conceived and will satisfy growing demand for innovative office and dynamic retail\/entertainment space in Nashville\u2019s Wedgewood Houston neighborhood,\u201d<\/em> said Christopher Knight, director of HFF, in a prepared statement. Knight, along with managing director Danny Kaufman, represented the borrower in the transaction.<\/p>\n<p>AJ Capital has additional projects planned in Nashville, including a 203-key hotel known as the Graduate Tennessee, geared towards cities with large universities. In December, the firm opened an <a href=\"https:\/\/www.commercialsearch.com\/news\/cornell-tech-campus-to-welcome-new-graduate\/\">on-campus hotel<\/a> under the Graduate flag in Minneapolis.<\/p>\n<p><em>Image\u00a0courtesy of Dryden Architecture and Design<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The redevelopment of the hundred-year-old building will include 80,000 square feet of creative office and 40,000 square feet of retail space.<\/p>\n","protected":false},"author":861,"featured_media":1004204427,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,13,21752,36077,21742],"tags":[33796,32792,36584],"class_list":["post-1004204380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-midwest","category-mixed-use","category-nashville-knoxville","category-latest","tag-aj-capital-partners","tag-hff","tag-tuck-hinton-architects"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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