Nashville's Tallest Tower Set to Begin Construction with $340M Financing Deal

Giarratana, a high-rise developer in Nashville, has secured a $340 million financing deal for Paramount, a 60-story residential building. The construction loan came from Benefit Street Partners and will cover the $460 million total cost of the project. Construction is set to begin on September 15 and is expected to take two and a half years, with 360 apartment units, 140 condos, and 517 parking spaces planned. The developer has also raised $120 million in equity from 76 investors and the sale of parking spaces.