Nashville-based AJ Capital Partners (“AJ Capital”) announced the closing of a $475 million construction loan for Belle Meade Village, its “cosmopolitan” retail and residential village. This financing supports the construction of both the retail and residential structures, as well as leasing and tenant improvement costs for the retail village. With financing in place, Belle Meade Village will soon transform the former 15-acre underutilized shopping plaza into an iconic mixed-use site. The project is located at the intersection of White Bridge Parkway & Harding Pike at the gateway to Belle Meade.
“Belle Meade Village will redefine the gateway to one of Nashville’s most established neighborhoods, turning an underutilized site into a community-driven destination that will become part of our city’s fabric for years to come. True to our approach, we are using the neighborhood’s history as our guide to create an authentic destination that both enhances the surrounding area and becomes a meaningful part of its future.”
Ben Weprin, CEO of AJ Capital Partners.
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. The loan closing also represents continued momentum for the project, the developer noted that its condominium component, 1 Iris Lane, is now 40% pre-sold in under three months of opening sales, signaling strong market demand.
“We are excited to collaborate with AJ Capital Partners to support the development of this transformational project as we continue to leverage our in-house expertise in construction lending,” said Ryan Naumes, Managing Director at Barings.
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. Here’s the quick rundown:
Belle Meade Village
4500 Harding Pike
| What’s Now | Previous Shopping |
| What’s Next | Mixed-Use |
| Developer | AJ Capital |
| Architects | Hartshorne Plunkard |
| Hastings | |
| Interiors | Meyer Davis |
| Landscape | Hawkins Partners |
| Civil | Barge Civil Assc. |
| Residential | 388 Units Max* |
| Retail | 80,000 SF Max* |
| Hotel | 78-Keys Max* |
| Contractor: | Brasfield & Gorrie |
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.
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. 1 Iris Lane features one-to-four-bedroom homes with an average unit size of approximately 3,200 square feet and a starting price of $3 million.
1 Iris Lane residents have access to over 16,000 square feet of both wellness and hospitality-minded amenity spaces as well as curated concierge services. A few featured amenities include a library, screening room, wine, whiskey, and cigar rooms, as well as entertainment spaces such as private Mahjong and Poker rooms. Wellness amenities include a Pilates studio, sauna, spa, private saltwater pool with cabanas, cold plunge, salon, and private treatment rooms.
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