$52 million construction loan secured for Antioch apartments

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A Tampa development firm has secured financing for its first project in Greater Nashville.

Mark Sembler of 2nd Wave Development signed for a $51.92 million construction loan from Synovus Bank (NYSE: SNV), according to newly filed deeds. The attached address was 1500 Bell Road — 34 acres in Antioch where the firm pitched Maxwell Apartments, which comprises 362 units.

The rapidly changing Antioch area has been a major target for apartment developers. Many have landed close to Century Farms, the 310-acre master development spearheaded by Oldacre McDonald.

According to recent Metro permit data, 2nd Wave’s project is slated for 13 buildings, nine garages and a clubhouse. According to a spokesperson, other amenities include:

  • two pools
  • a dog park
  • a steam room sauna
  • a salt therapy room
  • a fitness center
  • a work-from-home office area
Original Article