Helaba Provides $105M Construction Takeout Loan on Nashville Apartments

A joint venture between CrossHarbor Capital Partners and Mill Creek Residential has secured $105 million of construction takeout financing for a newly built mixed-use project in Nashville, Commercial Observer has learned.

German commercial bank Helaba supplied the bridge loan for the sponsorship’s Modera Riverview development that debuted in 2024 in Nashville’s Germantown neighborhood. PNC previously provided a $103 million construction loan for the 400-unit property, which also features 13,998 square feet of retail space.

Located at 1410 Adams Street, off the west shore of the Cumberland River two miles north of Downtown Nashville, Modera Riverview has resident amenities that include a swimming pool, a rooftop lounge, a fitness center, coworking spaces and a golf simulator. The ground-floor retail space is 100 percent leased to Legacy Fitness and Italian restaurant Indaco.

Jason Deck, director of real estate finance at Helaba, said having two “highly experienced multifamily operators” and a property in a city with strong momentum made the deal attractive. 

“Nashville continues to perform well and remains an important market for our U.S. real estate platform,” Deck said in a statement.

CrossHarbor Capital Partners and Mill Creek Residential did not immediately return requests for comment. 

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