Wood Partners, a company based in Atlanta, has recently secured a $51.5 million construction loan for its upcoming MetroCenter apartment project. The loan was provided by Commerce Bank, headquartered in Kansas City. According to the Nashville Business Journal, Wood Partners purchased a five-acre riverfront property for $12.8 million where it plans to develop Alta Lofts on the Levee.
The new development will be located at 210 Cumberland Bend in Nashville and will consist of a five-story apartment building with 325 residential units and a six-level parking garage. Dynamik Design, an architecture firm based in Atlanta, is responsible for the design of this project which is expected to break ground in October.
This latest venture comes after Wood Partners’ successful sale of their first MetroCenter apartment development called Alta Riverwalk earlier this year for $106 million to HHHCorp.. In 2021 alone, Wood Partners has made significant investments into the area including purchasing land worth $11.4 million for Alta Riverwalk’s site.
