JLL Arranges $36M Acquisition Financing for LBX Investments' Infill Nashville Portfolio

JLL Capital Markets announced Oct. 1 that it has arranged $36 million in acquisition financing for LBX Investments' purchase of the Infill Nashville Portfolio, a 134,113-square-foot mixed-use portfolio in Nashville, Tennessee. JLL's Atlanta and Nashville offices worked on behalf of the borrower, LBX Investments, to secure the loan.

The portfolio comprises two properties, Breeze Block at 6100-6110 Robertson Ave. and Stateline at 5300 Centennial Blvd., both in Nashville's Nations-Charlotte Park corridor. The portfolio is 92% leased, the firm said.

JLL Capital Markets Team Behind the Nashville Financing

The JLL Capital Markets team was led by Senior Managing Director Gregg Shapiro and Director Anthony Sansone, along with Vice President Kelsey Bawcombe and Analyst Kate Waterman.

"LBX identified an exceptional opportunity to acquire recently delivered assets in a submarket experiencing transformational growth," Shapiro said. "The financing structure we secured allows the sponsor to capitalize on embedded mark-to-market opportunities while benefiting from secure cash flow and institutional-quality construction."

Infill Nashville Portfolio: Breeze Block and Stateline

Breeze Block, at 6100-6110 Robertson Ave., totals 39,452 square feet of retail and creative office space and is configured as a two-building shopping center. The property was converted and expanded from a former industrial facility originally built around 1970, with the current mixed-use configuration completed in 2023. It was about 86% occupied at the time of sale.

Stateline, at 5300 Centennial Blvd., totals 94,661 square feet and sits on roughly 3.42 acres. It is a larger mixed-use destination fronting Centennial Boulevard, with office, retail, health and wellness, and service-oriented tenants. The property is a former industrial building that was converted to mixed-use; Vintage South Development acquired the site in 2020 for $6.5 million. Stateline was about 93% occupied at the time of sale.

JLL said the properties were completed in 2023 and 2024 and were designed to serve the area's growing live-work-play environment. The firm described the assets as offering modern construction with limited near-term capital needs, extensive parking and multiple ingress and egress points.

The portfolio has about 25 tenants across fitness, wellness, healthcare, food-and-beverage, professional services and office uses, which JLL said creates a balanced income stream across multiple business categories.

Acquisition Pricing and Loan Metrics

LBX Investments acquired the portfolio from Vintage South Development for $54.3 million, or roughly $405 per square foot across the 134,113 square feet. Stateline accounted for $37.5 million of the total, which implies about $16.8 million for Breeze Block. The $36 million loan equates to roughly 66% to 67% of the purchase price. JLL separately arranged the sale of the portfolio to LBX Investments.

Location and Nashville Submarket Context

The portfolio is about 3.5 miles from downtown Nashville, with access to Interstate 40 and Interstate 65. It sits near several of the city's employment, entertainment and residential districts, including The Gulch, Midtown, Music Row, Wedgewood-Houston and Brentwood. JLL said the location supports consumer traffic patterns and gives tenants access to a broad customer and employee base across the metropolitan area.

The properties are examples of industrial-to-retail and mixed-use conversions in Nashville's infill submarkets, a strategy in which older industrial buildings acquired at a lower basis are repositioned into newly built or heavily refurbished retail and office space.

About LBX Investments

LBX Investments is an owner-operator of open-air shopping centers, multifamily, mixed-use and Class A/B office properties. The firm is led by former public company executives Rob Levy and Phil Block, and pursues value-add and core-plus investments through a research-driven approach. Its LBX Retail division focuses on acquiring real estate with strong tenant bases in markets with compelling demographics. LBX has acquired more than $800 million in real estate since 2016.

JLL (NYSE: JLL) reported annual revenue of $26.1 billion, operations in more than 80 countries and a global workforce of more than 112,000 as of June 30, 2026. Its Capital Markets group has more than 3,000 specialists worldwide, with offices in nearly 50 countries.

Sources

JLL newsroom: https://www.jll.com/en-us/newsroom/jll-secures-36m-financing-for-infill-nashville-portfolio