**AJ Capital Secures $475M Loan for Belle Meade Village Development**
AJ Capital Partners has secured a $475 million construction loan for Belle Meade Village, a transformative 15.5-acre mixed-use development located at the site of the former Belle Meade Plaza in Nashville. The financing was provided by Barings.
According to the Nashville Business Journal, AJ Capital acquired the 10.1-acre site of the former Belle Meade Plaza—once home to the neighborhood’s longstanding Kroger grocery store—for $87 million in July 2023. The firm also purchased an adjacent 5-acre parcel for $1 million, bringing the total development footprint to 15.5 acres. The property is prominently situated at the entrance to the city of Belle Meade.
Scheduled to open in 2028, Belle Meade Village is set to feature an expansive mix of luxury residences, a boutique hotel, and more than 40 high-end storefronts in a pedestrian-centric retail district composed of seven two- and three-story buildings. The project will host a curated mix of local and international retailers, fine dining establishments, a private member’s club, and wellness-focused amenities.
Construction of the ambitious development officially commenced in October 2023.
Raymond James Real Estate Investment Banking acted as the financial advisor to AJ Capital Partners in arranging the loan transaction.
