Wood Partners Funded for MetroCenter Rental Community

Atlanta-based Wood Partners has secured a $51.5 million construction loan for its MetroCenter apartment project. Kansas City-based Commerce Bank provided the loan. The Nashville Business Journal reports the development firm paid $12.8 million for a five-acre riverfront property where it plans Alta Lofts on the Levee, a multifamily development.

Located at 210 Cumberland Bend in Nashville, the five-story apartment building will offer 325 residential units, as well as a six-level parking garage. Atlanta-based Dynamik Design is the architect on the project. Wood Partners is eyeing an October groundbreaking for the apartments. Alta Lofts is located near Alta Riverwalk, Wood Partners’ first MetroCenter apartment development that sold to HHHCorp. for $106 million in February. The Atlanta developer paid $11.4 million for the Alta Riverwalk site in 2021.