- Portfolio Refinancing -
Air Lane and Franklin Commons
In the first half of 2007, The Mathews Company has secured new loans for two projects in the existing portfolio. 1830 and 1865 Air Lane Drive, collectively representing 130,000 square feet of office showroom space, were refinanced together with a $3.55 million 10-year permanent loan held by Sun Life Assurance Company of Canada. Franklin Commons is a 34,700-square-foot retail center that was refinanced with a $2.2 million 10-year permanent loan held by American United Life Insurance Company..
- Sold -
Nashville Auto Diesel College
In October 2006, The Mathews Company sold a 211-unit student housing project it developed for the Nashville Auto Diesel College two years prior. The purchase price was $10.4 million and was paid by an out-of-state investor.
- Acquisitions -
Fifth Avenue South and Gateway Boulevard, Nashville
In November 2006, The Mathews Company sponsored an entity that purchased one acre of land at the intersection of Fifth Avenue South and Gateway Boulevard. This site is adjacent to the leading site that has been identified for the future development of a new downtown convention center. The entity plans to hold the property for future development.