Sentral SoBro
A multifamily property in Nashville, Tennessee. Securitized in 1 CMBS deal in 2024.
$138.1MAppraised value (latest deal)
94.8%Occupancy
$10.4MUnderwritten NOI
7.5%Implied cap rate
- Address
- 516 Lea Avenue, Nashville, TN 37203
- Property type
- Multifamily · High Rise
- Year built
- 2021
- Size
- 299 Units
- Sponsor
- ICONIQ Residential Partners GP, LP
- Loan purpose
- Refinance
Appearances in CMBS deals
| Deal | Cut-off / filing | Appraised | Occ. | UW NOI | Cap | Loan / alloc. bal. | LTV | DSCR | Source |
|---|---|---|---|---|---|---|---|---|---|
| WFCM 2024-5C2 | 2024-11-19 | $138.1M | 94.8% | $10.4M | 7.5% | $4.0M | 36.1% | 2.43x | 424B |
Historical NOI reported in WFCM 2024-5C2
| Period ending | NOI |
|---|---|
| 8/31/2024 | $7.6M |
| 12/31/2023 | $6.3M |
| 12/31/2022 | $1.8M |
More CMBS properties in Tennessee →
Figures are read from Annex A-1 of the trust's SEC prospectus as of the deal's cut-off date. Parsing can misread a cell; the prospectus link is the authoritative source. Implied cap rate = underwritten NOI ÷ appraised value, shown only between 2% and 20%.