Knighthead Funding Refis Nashville Apartments With $27M Loan

A joint venture between Preiss and Speedwagon Capital Partners is singing a new tune in Music City.

The sponsorship just landed a $27 million loan to refinance its newly built rental apartment property in Nashville near Vanderbilt University, Commercial Observer has learned.

Knighthead Funding provided the loan for Preiss’s 105-unit Signature Music Row project that debuted in late 2024. 

Located at 1005 16th Avenue South in Nashville’s Music City neighborhood, the property is poised to benefit from its close proximity to the city’s music venues and Vanderbilt’s 13,500-student campus, according to Knighthead.  

“The property’s prime location in Music Row, coupled with its condominium-quality construction and compelling amenity package, positions it well as a generational asset,” Peter Illuzzi, vice president of loan originations, said in a statement. 

Situated on a 0.64-acre site, the six-story property consists of one-, two- and three-bedroom apartments along with townhomes. Community amenities include an elevated outdoor pool, an outdoor grilling area, a resident clubroom, a sixth-floor sky lounge, and a fitness center. It also has ground-floor retail space leased to Silver Fox Coffee Lounge.

Preiss and Speedwagon Capital Partners did not immediately return requests for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.