GrayCo Obtains $34M Refi for Nashville-Area Rental Community

GrayCo obtained a $34 million refinancing for the Bristol Park at Riverchase, a 300-unit apartment complex in Madison, TN, not far from Nashville.

BWE’s Charles DuBose and David Foulk originated the financing from Fannie Mae on behalf of GrayCo. The loan has a seven-year term and interest-only payments for the life of the loan. 

“GrayCo wanted to take advantage of a dip in interest rates to get out from underneath a floating rate loan and lock in cheaper, fixed-rate financing, as well as recapture a significant amount of equity they had tied up in this asset,” said DuBose.

Located at 100 Riverchase Boulevard, Bristol Park Apartments offer residents a wide variety of amenities, including a fitness center, sand volleyball court, pool, business center, pet play area, and more. The property includes a mix of one-, two-, and three-bedroom units, and the apartments have amenities including built-in home offices, fireplaces, and attached garages.