BB&T officials on Monday said their Grandbridge Real Estate Capital division recently brokered a deal to help fund the construction of the 475-spot parking garage being built next to the Nashville City Center by Parmenter Realty. Miami-based Parmenter last year committed to build the underground garage — it could eventually have up to 25 stories built on top of it — to help convince law firm Waller to renew its City Center lease. The terms of the deal handled by Grandbridge: Five years, 6 percent and 18 months of interest-only payments.
Turnip Truck owner John Dyke has beefed up his team's culinary lineup with the hiring of Meg Giuffrida as director of food services. Giuffrida, who most recently worked at the Martha O'Bryan Center, has in the past run Bongo Java East's brunch operation and is the former proprietor of The Red Wagon café in East Nashville.
“I watched Meg grow The Red Wagon catering business into to a full-fledged neighborhood café utilizing the best fresh, local ingredients with a loyal following,” said Dyke. “In between, she provided all the carry-out food for The Turnip Truck Natural Market in East Nashville when we opened in 2001. It was then that I fell in love with her dedication to creating simple, delicious natural food.”
Behavioral health care provider Centerstone broke ground Monday on an outpatient treatment facility that will serve children, adults and seniors. The building, Centerstone’s first new construction in Metro, will rise at White and Craighead avenues, just around the corner from Jaguar Porsche Audi of Nashville, in the Berry Hill area.
Orion Building is handling the construction of the 18,090-square-foot facility, which was designed by local architect Brian Smallwood of InForm Smallwood + Nickle. (The renderings here are courtesy of that firm.) The center will be home to dual specialty clinics — one for children and families, the other for adults and older adults — as well as 37 clinician offices and room for future growth.
Faison & Associates LLC — the Charlotte, N.C.-based company whose Demonbreun-FCA subsidiary is expected to develop a key parcel on the Music Row Roundabout — offers a mixed-bag history of developing urban properties.
Earlier this week, Demonbreun-FCA paid $6.75 million for the 3-acre site at 1515 Demonbreun St. The seller was Houston-based The Lionstone Group. Faison’s website is limited in specificity but references projects “from Washington, D.C., to Florida.” Not surprisingly, Charlotte is the key city of focus, with Faison most recently announcing a sleek-looking luxury apartment development near Uptown’s Johnson and Wales campus (see rendering above).
The site includes a handful of other contemporary and urban buildings. In contrast, Faison has undertaken various suburban strip mall projects, none of which — based on a quick scan of the website – look distinctive. See here.
Henry J. Faison serves as company chairman and founder and is a member of the Urban Land Institute — a good thing, on paper, as it relates to urban development.
Clayton Associates’ FCA Venture Partners has placed $1.5 million with Catavolt Inc., an Atlanta-based mobile application software development company. Also in on the deal was angel investor and Clayton advisory board member George Salem, according to a statement.
Catavolt’s creation, dubbed Catavolt Extender, is a “hybrid cloud service” package that connects a client company’s enterprise data — large-scale blocks of information — to specified mobile phones in real time. To put it in the company's words: “The idea is to deliver mobile phone applications without the expensive need to develop proprietary software to process information on the client end. Catavolt's unique approach, based on its patent-pending Dual Model Architecture, enables organizations to rapidly create and deliver mobile applications to business users without the need for costly and traditionally resource-intensive software development projects.”
Mobile application software development has of late captured the interest of local investors. We reported just this week on the launching of Streamweaver, a split-screen mobile video application company initially funded by two TNInvestco participants, Mountain Group Capital’s Limestone Fund and the Tennessee Communities Venture Fund. Funding levels weren’t specified for either fund.