News May 23, 2022
Madison Realty Capital Lends $23M on Nashville Resi Towers
Commercial Observer reported that M2 Development Partners has secured $23 million of construction financing from Madison Realty Capital to build two residential towers in Nashville’s Midtown and SoBro neighborhoods. The loan for the pre-development work of Nashville-based M2’s new multifamily project includes a 1.14-acre site on 500 Lafayette Street in Nashville’s SoBro section, where plans call for a roughly 340-unit building, outdoor space and underground parking. Another 15-story tower with 139 units will rise on a 0.78-acre site at 17th Avenue North and Patterson Street in the Midtown neighborhood.