$85 Million Refinancing for Crosstown Building Owner, LLC

Bass, Berry & Sims advised on the transaction

Crosstown Building Owner, LLC executed the the refinaneing of its existing syndicated construction loan.

The $85 million transaction solidified the company’s capital structure over the next 20 years as it continues to implement the concept of a “vertical urban village” within the 1.2 million square foot mixed-use Crosstown Concourse building in Memphis.

Many of the capital sources for this complex deal had to be re-affirmed and subordinated to the new loan, including New Market Tax Credits, Historic Tax Credits, a Historic Tax Credit Bridge Loan and Energy Conservations Bonds.

Crosstown Building Owner LLC provides facilities management, brokerage and lease management services.

Bass, Berry & Sims advised Crosstown Building Owner with a team including Michael C. Gibson, B. Taylor Gray, Jessica R. Reeves, Justin T. Starling and T. Gaillard Uhlhorn, V

Involved fees earner: Michael Gibson – Bass Berry & Sims; Taylor Gray – Bass Berry & Sims; Jessica Reeves – Bass Berry & Sims; Justin Starling – Bass Berry & Sims;

Law Firms: Bass Berry & Sims;

Clients: Crosstown Building Owner LLC;


Author: Ambrogio Visconti