BWE Secures $42.5 Million Refinancing for Historic Nashville Office and Retail Property

BWE recently arranged a $42.5 million refinancing loan for the historic Baggage Building, a 61,000-square-foot office and retail property situated at 111 10th Ave. S in Nashville, near the vibrant Gulch district. Nick Harb of BWE secured this significant financing from a regional bank on behalf of the borrower, DZL Properties. The loan agreement features a notable interest-only payment period, offering financial flexibility.

Originally constructed between 1898 and 1900, the four-story Baggage Building served as part of the Louisville-Nashville Railroad/Union Station terminal complex, handling luggage and freight. It underwent a major renovation in 1999, transforming it into a modern mixed-use asset. Current tenants include Pinnacle Bank, The Finch Grill & Raw Bar, and Global Medical Research, highlighting its diverse commercial appeal. This refinancing deal underscores ongoing investment confidence in Nashville's historic commercial properties, particularly those with strategic locations and established tenant bases. For developers and investors, securing such a loan for a landmark property demonstrates the continued viability of adaptive reuse projects in key urban markets.