News release

$135M refinancing arranged for a premier adaptive mixed-use project in Nashville

JLL Capital Markets led the financing efforts for Cummins Station, a pre-stabilized, historic adaptive re-use office building in the heart of the Gulch neighborhood

June 26, 2024

Kristen Murphy

Capital Markets, Hotels & Hospitality and Value & Risk Advisory PR
+1 617 848 1572

NASHVILLE, June 26, 2024 – JLL Capital Markets announced today that it has arranged a $135 million refinancing for Cummins Station, a premier mixed-use asset totaling 408,000 square feet in Nashville, Tennessee.

JLL worked on behalf of the borrower, DZL Management, to secure the five-year, fixed-rate loan.

Cummins Station is located at 209 10th Ave. S. in the heart of Nashville’s Gulch neighborhood. The Gulch is widely known as Nashville’s premier office district and is a true live-work-play neighborhood, home to numerous Fortune 500 employers, esteemed blue chip employers and an array of residents. In addition, Cummins Station has immediate proximity to Downtown and I-40 and is within walking distance of more than 3,000 residential housing units, more than 10 hotels and more than 60 food and beverage options.

Originally built in 1906, the iconic historic property has undergone renovations since to transform it into its current state as a premier mixed-use asset offering creative office spaces, 46,000 square feet of retail space and unique dining options.

According to JLL “Despite the challenges posed by the evolving macro-economic climate and headwinds faced by the office sector, there remains a viable pool of liquidity for office assets in prime locations boasting strong tenancy and exceptional sponsorship.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 108,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit