Two investment funds – one of them co-founded by basketball legend Magic Johnson – have committed to help fund the construction of the $170 million Pinnacle at Symphony Place office building downtown.
The capital infusions from Canyon-Johnson Urban Fund and Integral Urban Fund I complete the financing picture for Barry Real Estate Cos., the Atlanta developer of the 29-story tower rising next to the Schermerhorn Symphony Center. Wachovia is the construction lender on the project.
Los Angeles-based Canyon-Johnson last fall committed almost $20 million toward the building of the Terrazzo condo tower in the Gulch. Integral, which operates out of Atlanta, is making its first Nashville investment with the Pinnacle, which will be anchored by Pinnacle Financial Partners and Bass, Berry & Sims when it opens two years from now.
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