**AJ Capital Secures $475 Million Loan for Belle Meade Village Development**
AJ Capital Partners has secured a $475 million construction loan from Barings to fund the development of Belle Meade Village, a 15.5-acre mixed-use project located on the site of the former Belle Meade Plaza near Nashville, Tennessee.
According to the Nashville Business Journal, AJ Capital acquired the 10.1-acre Belle Meade Plaza location—previously home to the neighborhood’s longtime Kroger—for $87 million in July 2023. The firm also purchased an adjacent 5-acre parcel for $1 million. The combined site is situated at the gateway to the city of Belle Meade.
Scheduled to open in 2028, Belle Meade Village will feature a vibrant mix of upscale retail, residential, and hospitality offerings. The development plan includes over 40 storefronts housed in seven two- and three-story buildings, offering space to both local and international retailers, restaurants, a boutique hotel, a private members club, and wellness-focused amenities.
Construction on Belle Meade Village commenced in October. Raymond James Real Estate Investment Banking served as the financial advisor and represented AJ Capital in securing the loan.
