A joint venture between PGIM and Stiles | Hensler has secured $310 million in bridge financing for Peabody Union, a 665,000-square-foot mixed-use development along the banks of the Cumberland River in downtown Nashville’s South Bank district.
Completed in 2025, Peabody Union comprises a 27-story, 355-unit luxury residential tower, 249,988 square feet of class A office space and 52,735 square feet of experiential retail and restaurant space.
The office component, 50 Peabody, is 100 percent leased to Starbucks Corp., which will take occupancy in 2027 as its eastern headquarters. Building amenities include two 2,000-square-foot outdoor terraces on the sixth floor, a 4,500-square-foot state-of-the-art wellness facility with full locker rooms, a 4,000-square-foot club room on the second level, 1,000 square feet of conditioned bike storage, dedicated VIP parking and extensive electric vehicle charging infrastructure.
Olive at Peabody Union is the residential compone
