A joint venture between EMBREY Partners and SouthStar Development has landed a $71 million senior construction loan to build Crossings Boulevard, a planned 360-unit apartment community in Spring Hill, Tennessee. The Class A, three-story, garden-style project will sit on 14 acres within a much larger 213-acre master-planned development, with completion targeted for the first quarter of 2028.
The loan was provided by PCCP, a real estate finance and investment firm, according to Yield PRO. The outlet reports the property will include 216 one-bedroom units and 144 two-bedroom units spread across four floor plans, averaging 933 square feet apiece. Units are set to feature nine-foot ceilings, among other interior details outlined in the loan announcement.
Crossings Boulevard sits in Spring Hill's Maury County submarket, about 37 miles south of downtown Nashville, per the same report. The surrounding master-planned community is expected to eventually include more than 400,000 square feet of commercial space, 300 hotel rooms and 17 acres of recreational space, Yield PRO notes.
Why Lenders Are Betting on This Stretch of Maury County
Lia Barsanti, a senior vice president with PCCP, said the firm saw a compelling opportunity to provide construction financing on a Class A community, according to the report. Barsanti added that Crossings Boulevard is well-positioned in one of Nashville's fastest-growing and most supply-constrained submarkets, the same account notes.
That growth claim has numbers behind it: Maury County's population rose 17 percent between 2020 and 2025, per the Yield PRO report, making it one of the Nashville metro's fastest-growing counties. The report points to an employment base anchored by General Motors and Ultium Cells, with the area connected to Franklin, Brentwood and the Nashville central business district via I-65 and US-31.
It's worth noting that an earlier, 2022 description of the broader site — then called Spring Hill Crossings — sketched a much larger buildout, with Columbia Daily Herald reporting plans for roughly 1,600 residential units, 600 hotel rooms and 535,000 square feet of commercial development on the same 213-acre tract. How that earlier proposal relates to the scope now described for Crossings Boulevard isn't addressed in the available reporting, and neither version is confirmed as current.
EMBREY's Broader Tennessee and Southeast Push
The Crossings Boulevard loan is just the latest in a run of EMBREY construction financings across Tennessee and beyond. The firm, a vertically integrated real estate investment company based in San Antonio, says it has developed more than 50,000 apartments and over 6 million square feet of commercial property since 1974, with current holdings across Texas, Arizona, Colorado, Florida, North Carolina and Tennessee, according to EMBREY. The company reports it now has more than 6,000 units under construction or in development.
Also in Spring Hill, EMBREY previously closed financing for Cantara at Legacy Pointe, a 350-unit community, with funding from Kennedy Wilson, per the same EMBREY announcement. That project sits within SouthStar's Legacy Pointe master-planned community in the same Maury County submarket, with construction slated to begin in the fourth quarter, first units expected in early 2026 and full completion anticipated in the first quarter of 2027, the announcement states.
EMBREY has also been active outside Tennessee. PCCP separately provided a $66 million construction loan for the developer's 300-unit Boggy Creek community in Kissimmee, Florida, a three-story garden-style project on 13.3 acres slated for completion around early 2027, according to Multifamily Affordable Housing. Closer to home, EMBREY acquired six acres in Franklin, Tennessee, with plans to build 604 units within the Aureum master-planned community and closed a nearly $65 million construction loan for the 296-unit Thatcher at Aureum, where first occupancies are expected in the third quarter of 2027, per Multi-Housing News.
PCCP's Growing Footprint in Construction Lending
PCCP reported roughly $30.1 billion in assets under management on behalf of institutional investors as of June 30, 2026, Yield PRO's report notes. Since its founding in 1998, the firm says it has managed, raised or invested more than $50.4 billion of capital through private equity funds, separate accounts and joint ventures, with the Crossings Boulevard deal representing its latest bet on Middle Tennessee's apartment pipeline.
