DENVER, CO – April 20, 2022 – Wintrust Commercial Real Estate is pleased to announce the issuing of a $64.73 million construction loan to Bridge Investment Group and SomeraRoad Inc. for the five-story Emblem Park development, located within the Wedgewood-Houston neighborhood of Nashville, TN.

Wedgewood-Houston is located less than two miles southeast of downtown Nashville. Once known for its old factories and warehouses, it has become one of the most organized and fastest developing urban communities in Nashville. There are many adaptive reuse and brownfield conversion sites that will transform the core of the community and extend the walkability of the existing residential sectors.

“Wintrust is proud to finance projects like Emblem Park that preserve some of the neighborhood’s historic character,” says Colorado Market President Andy Kolos of Wintrust Commercial Real Estate. “In a rising cost environment, execution was critical, and this was a true team effort all around to get this deal to close.”

Emblem Park, once constructed, will represent a five-story, 346-unit mid-rise apartment building featuring the creative reuse of an approximately 13,085-square-foot industrial warehouse, all located on a 5-acre site. Floor plans will include studio (121 units), one-bedroom (175 units), two-bedroom (45 units), and three-bedroom (5 units), with common amenities such as a clubhouse, fitness center, co-work space, pool with cabanas, grilling area, fire pit, and dog run/washing station.

“When developing for a housing project this unique, you need the right partners that provide solutions specific to your needs,” said Bart Johnson, president Wintrust Bank, N.A. “I’m proud of our team and partners for finding competitive ways to finance this project.”

Construction of Emblem Park will formally break ground in May 2022. Financing of the project is in partnership with Bridge Investment Group and SomeraRoad Inc.
 

If you have any commercial financing needs, please reach out to our team.

Andy Kolos - akolos@wintrust.com
Andrew Salomone | asalomone@wintrust.com