REBusinessOnline

Allianz Provides $100M Loan for Office Tower in Downtown Nashville

Built in 2010, The Pinnacle at Symphony Place in downtown Nashville was 99 percent leased at closing to 20 tenants.

NASHVILLE, TENN. — Allianz Real Estate of America has provided a $100 million loan for The Pinnacle at Symphony Place, a 28-story, 520,000-square-foot office tower located in downtown Nashville. Built in 2010, the LEED Gold-certified building was 99 percent leased to 20 tenants at closing. Bat Barber of Medalist Capital arranged the loan through Allianz on behalf of the borrower, Highwoods Properties, a Raleigh-based REIT that purchased the office building in 2013 for $152 million. The Pinnacle at Symphony Place represents the first commercial mortgage in Nashville for Allianz Real Estate of America, which manages a $10.7 billion debt portfolio. Allianz Real Estate of America is the U.S. real estate lending arm of Allianz Group, a global asset management firm based in Munich.

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