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Memphis’ Lake District Retail Center Lands $60M Construction Financing
David B. Norton Inc. closed a $60-million construction loan for the first phase of The Lake District, a to-be-built 165-acre lifestyle center development in Lakeland, just east of Memphis in Shelby County, TN. The project is envisioned as a regional destination with retail, entertainment, restaurant, multifamily and single-family residential, office, and hospitality components.
The financing provides the developer, Gilad Development, the capital to complete the construction of the first phase of the project, and also provides funding toward the ongoing pre-development of future phases of the larger development. The loan replaced an infrastructure bridge loan, which David B. Norton Inc. placed in May 2019.
The initial phase encompasses a mix of in-line retail components and out-parcel buildings which includes a movie theater with bowling alley, a 35,000-square-foot specialty grocery store, restaurants, and numerous retail shops. Totaling 200,000 net square feet of retail, restaurants, and entertainment, the first phase has been substantially pre-leased to such tenants as Malco Theaters, Starbucks, AT&T, and Firehouse Subs.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development

