AJ Capital Lands $475M Loan for Belle Meade Mixed-Use Venture

AJ Capital Partners inked a $475 million construction loan for Belle Meade Village, a 15.5-acre mixed-use development on the site of the former Belle Meade Plaza. Barings was the lender.

The Nashville Business Journal reports the firm paid $87 million for the 10.1-acre Belle Meade Plaza site, home to the neighborhood’s longtime Kroger, in July 2023 and bought a neighboring 5-acre property for $1 million last year. The property sits at the entrance to the city of Belle Meade.

Set to open in 2028, Belle Meade Village will offer dozens of new retail stores, luxury residences and a boutique hotel.

Belle Meade Village’s retail square, which will be comprised of seven two- and three-story buildings, will offer more than 40 storefronts which will include local and global retailers, restaurants, a boutique hotel, a member’s club and health and wellness offerings.

AJ Capital began the construction of Belle Meade Village in October.

Raymond James Real Estate Investment Banking served as financial advisor and represented AJ Capital in the loan transaction.