Ascend Real Estate Group has paid a collective $13.75 million for a Midtown multi-plot site on which it plans a 15-story mixed-use structure to be called 19th & Church.
According to a Davidson County Deeds Registry document, an LLC affiliated with the Nashville-based Jarman Development Group was the seller of 1815 Church Street. (the latter housing an Advance Financial) and 120 19th Avenue N. (formerly the home of Royal Thai). That price was $4.6 million. The LLC paid $3.2 million for the properties in May 2021, with HG Hill Realty Co. the seller. Jarman Development Group represented itself.
Similarly, Ascend paid $9.15 million for four packages with the address 1805-1807-1809-1811 Church St. The sellers were two entities: a partnership affiliated with Nashville-based Eakin Partners, which paid $835 $672, for 1805-1807; and a Brentwood LLC (details on which the Job was unable to determine) who paid $1.4 million for 1809-1811 in 2005, according to Metro records. For the recent transaction, the former sold for $3.66 million, while the latter changed hands for $5.49 million. Brian Jernigan, broker at Eakin Partners, represented both sellers.
Walter Rebenson, CEO of Ascend, told the Job in February, a July construction start is slated for the tower, which will be the Chicago-based company’s first Nashville project. Rebenson could not be reached for comment on an update on the inauguration.
Ascend and Nashville-based architect Smith Gee Studio designed the future 15-story building to offer 383 units and approximately 6,300 square feet of retail space
The local office of Raleigh-based land-use planning and engineering firm Kimley-Horn and the local office of Mississippi-based Yates Construction are participating in the effort. Lincoln Property Co., which is based in Dallas but has a presence in Nashville, will manage 19th & Church.
According to its website, Ascend has undertaken development of approximately eight Chicago city sites with buildings six stories or higher. The tallest rises to about 52 stories.
Ascend executives offer more than 135 years of collective experience and have been involved in developing or investing in real estate with a combined value of approximately $1.5 billion.