NASHVILLE, Tenn., Aug. 30,
2023 /PRNewswire/ -- Canyon Partners Real Estate LLC
("Canyon") and J.P. Morgan today announced they have co-originated
a $174.6 million senior construction
loan to a joint venture between GBT Realty Corporation and Koch
Real Estate Investments for the recapitalization of One22One, a
recently completed trophy office tower in Nashville, Tennessee.
One22One is a Class A, 24-story office building with 373,232
square feet of office space, 16,938 square feet of retail space,
and 13 stories of parking totaling 930 spaces. The state-of-the-art
tower has a wide range of amenities, including a conference center,
outdoor terrace overlooking Downtown
Nashville, tenant lounge, port cochere, and fitness center.
The property features various post-pandemic safety features,
including individual HVAC systems on each floor to enhance quality
air circulation and touchless technologies such as keyless access
to tenant suites and elevators.
"As Nashville continues to climb the ranks in growth and
business demand, there is increasing appetite for well-located,
modern office space in the market," said George Tomlin, President and CEO of GBT Realty
Corporation. "We look forward working with Canyon Partners and J.P.
Morgan on the recapitalization of One22One, positioning the
property to take advantage of rising demand and provide the
workspaces and amenities that today's companies are seeking in a
post-pandemic environment."
"One22One demonstrates that new vintage state-of-the-art office
continues to outperform and drive tenant and capital demand. We are
pleased to have represented and advised GBT and Koch on this
assignment and a special thank you to the Canyon and JPM teams on
their ability to navigate a challenging capital markets
environment," said Managing Director Matt
Stewart of JLL's Capital Markets group.
Constructed in July 2022, the
property is leased to major tenants, including Bradley Arant Boult
Cummings LLP, a national law firm, FirstBank, the third largest
Tennessee-based bank which will
also relocate its headquarters to One22One, and Slalom, a global
management consulting company. Located in Nashville's Gulch neighborhood, One22One is
conveniently near Music Row, the epicenter of Nashville's music industry scene, and Midtown,
the home of Vanderbilt University. The
property is adjacent to Interstate 40, providing easy accessibility
for commuters.
Canyon has been an active provider of debt and equity in the
Southeast and continues to invest in real estate projects in
primary and secondary markets across the
United States. Since its inception, Canyon has invested
~$2.0 billion in debt and equity to
capitalize ~$6.2 billion of total
projects in the Southeast.
About Canyon Partners LLC
Founded in 1991, Canyon
Partners Real Estate LLC ("Canyon") is the real estate direct
investing arm of Canyon Partners, LLC, a global alternative asset
manager with approximately $24.5
billion in assets under management. Over the last ten years,
Canyon has invested approximately $5.6
billion of debt and equity capital across over 200
transactions capitalizing approximately $21.3 billion of real estate assets, focusing on
debt, value add, and opportunistic strategies. With 30+ years of
experience, Canyon has established a broad menu of investment
capabilities spanning property types, US regions, and project
stages (including development, transitional, and
distressed/workouts). For more information visit:
www.canyonpartners.com.
About GBT Realty Corporation
Founded in 1987, GBT
Realty Corporation develops virtually all types of retail and
mixed-use developments throughout the
United States from its headquarters in Brentwood, Tennessee, a suburban Nashville community. Since inception,
GBT has been involved with the development, construction, leasing
and management of over $8 billion of
real estate totaling 40 million square feet of grocery-anchored,
neighborhood and single-tenant retail; regional power centers; and
mixed-use developments in 30 states. Currently, the company
has $3 billion of commercial
development in the pipeline or under construction by its shopping
center, net lease, multifamily and diversified development
platforms.
For more information visit gbtrealty.com.
About JLL
For over 200 years, JLL (NYSE: JLL), a
leading global commercial real estate and investment management
company, has helped clients buy, build, occupy, manage and invest
in a variety of commercial, industrial, hotel, residential and
retail properties. A Fortune 500 company with annual revenue of
$20.9 billion and operations in over
80 countries around the world, our more than 103,000 employees
bring the power of a global platform combined with local expertise.
Driven by our purpose to shape the future of real estate for a
better world, we help our clients, people and communities SEE A
BRIGHTER WAYSM. JLL is the brand name, and a registered
trademark, of Jones Lang LaSalle Incorporated. For further
information, visit jll.com.
Media Contacts
Kris
Cole
Prosek Partners
(310) 614 9208
pro-canyon@prosek.com
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SOURCE Canyon Partners LLC