City National Bank has provided a $46.8 million floating-rate loan to finance the construction of The ONE at Millington, a new 360-unit garden-style multifamily development in Millington, Tennessee. One Real Estate Investment (OREI) is the sponsor of this project and Berkadia’s Brad Williamson, Patrick Johnson, Mitch Sinberg, Scott Wadler and Matt Robbins worked together to secure the financing on behalf of OREI.
The ONE at Millington will be located at 8490 US-51 on a 24-acre site within the larger community known as Millington Farms. This three-story complex will offer one-, two-, and three-bedroom apartments with an average size of 1,071 square feet per unit. Residents can enjoy various amenities such as a pool with an outdoor cabana and bar area as well as a state-of-the-art fitness center.
Millington Farms is a master-planned development spanning over 100 acres that includes future developments like three hotels, six medical office buildings,and over 100000 square feet of retail space along with an assisted living facility.
