JPMorgan provides $75m on mixed-use center in Nashville

The bank provided the seven-year, floating rate loan to LaSalle Investment Management to refinance existing debt on the property.

JPMorgan Chase has provided a $75 million refinancing on the 892,886 sq ft mixed-use retail and medical center One Hundred Oaks in Nashville, Tennessee.

One Hundred Oaks, Nashville, Tennessee
One Hundred Oaks, Nashville, Tennessee

The bank provided the seven-year, floating rate loan to LaSalle Investment Management to refinance existing debt on the property, according to HFF, which helped arrange the deal.

One Hundred Oaks is a retail, entertainment and medical office center, with all of the medical office space leased to Vanderbilt University Medical Center.

The center at 719 Thompson Lane is 99 percent occupied, with tenants including Regal Cinemas, Burlington Coat Factory, Ross Dress for Less, and Guitar Center, and Regions Bank.

The borrower purchased the property in October 2012 from a joint venture between ATR & Associates and Corinth Properties, according to Real Capital Analytics. The local government assessed the value of the property at $101.4 million in 2015, county records show. The property was redeveloped in 2009 and 2010 and was originally built in 1967.

This June JPMorgan also provided a $70 million acquisition loan on the Austin Centre mixed-use building in Austin, Texas, while this May the bank provided a $98 million acquisition loan on a trophy office building in the business district of San Francisco, California.

The bank had $1.7 trillion assets under management at the end of the first quarter 2016. LaSalle is a global real estate investment manager with $59 billion assets under management.

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