NASHVILLE, TN – New York City-based, Safehold Inc. has secured its fourth ground-lease to capitalize its $128.4 million mixed-use development in downtown Nashville, TN.
The 16-story project, Prima at Paseo South Gulch, will comprise 278 class A multifamily units and 18,000 square feet of class A office space and 8,000 square feet of retail space. The property's multifamily aspect will offer amenities including a pool, game room, roof club & lounge, fitness center, business center and high-quality in-unit features.
The ESA-designed development is part of SomeraRoad's larger Paseo South Gulch master plan, which will comprise more than 600 apartment units and 110,000 square feet of retail and office space, once complete.
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"This is another successful example of Safehold's dedication to providing the commercial real estate industry with access to more efficient and lower cost capital," says Tim Doherty, Safehold's head of investments. "We are pleased to welcome SomeraRoad as a new customer and appreciate the opportunity to capitalize their high-quality development project."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
