Staff Reports Nashville Post July 13, 2021 Original Article posted here.
Featured image above shows rendering of The Chartwell at Marathon.
First Southern Mortgage Corp. has assisted Nashville-based development company Chartwell Residential in securing a $63.22 million loan related to future mixed-use project The Chartwell at Marathon.
This comes after Chartwell in March paid about $17 million for two Marathon Village-area properties on which the project will unfold, with a groundbreaking eyed by month’s end, according to a release.
The property is located at 800 14th Ave. N. and at 801 12th Ave. N.
To include residential and retail spaces, The Chartwell at Marathon (it had been called Union Brick) will carry a roughly $85 million price tag.
According to the release, Nashville-based First Southern helped close the loan, which Principal Real Estate Investors provided.
“Everyone at Chartwell and Principal are true real estate professionals and it was a pleasure working with them on this transaction,” Stephen Brink, managing principal of First Southern’s Nashville office, said in the release. “The competitive financing package offered by Principal was ideal for property ownership, and we were honored to serve as debt advisor to this stellar team.”
Chartwell Residential is led by Ben Schaedle.
The Chartwell at Marathon (one of the future buildings is pictured) will offer 388 apartment units (of which 24 will be live-work residences), 4,000 square feet of retail space and 10 townhomes. See more images here.
The Birmingham office of David Baker Architects (Amanda Loper) and Nashville-based Johnson Johnson Crabtree Architects (David Brown) are handling design. Catalyst Design Group (Jeff Heinze and Jack Parker) is overseeing land planning efforts. A general contractor has not been announced.
Anchored by Corsair Distillery and Marathon Music Works, among multiple other businesses, Marathon Village sits on the south side of the railroad tracks that The Chartwell at Marathon will address.
Article reposted with permission from Nashville Post.