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Nashville-Area Retail Center Owner Scores $125M Refi
Big V Property Group has secured $125 million in cash-out refinancing for The Avenue Murfreesboro, an 846,467-square-foot lifestyle retail center in Murfreesboro, Tenn. Chris Drew led a JLL Retail Capital Markets Debt Advisory team that secured the five-year, balance sheet financing.
Commercial Edge reports Big V purchased the asset in 2020 from Hines for $136.4 million. Beal Bank provided a $90 million acquisition loan. Completed in 2007, the retail center encompasses 11 buildings on an 85.6-acre site.
Anchored by H&M, Belk, Barnes & Noble, Haverty’s Furniture, Old Navy, Dick’s Sporting Goods, Best Buy and Burlington, the open-air retail center was 93.1 percent leased at the time of the sale.
- ◦Sale/Acquisition
