{"id":1004366081,"date":"2019-11-06T03:32:36","date_gmt":"2019-11-06T11:32:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004366081"},"modified":"2019-11-06T03:32:36","modified_gmt":"2019-11-06T11:32:36","slug":"elmington-capital-buys-nashville-office-park-for-46m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/elmington-capital-buys-nashville-office-park-for-46m\/","title":{"rendered":"Elmington Capital Buys Nashville Office Park for $46M"},"content":{"rendered":"
\"Haywood<\/a>

Haywood Oaks Park<\/p><\/div>\n

Albany Road Real Estate Partners has sold Haywood Oaks Park, a 325,700-square-foot Class B office asset in Nashville, Tenn., to Elmington Capital for $46 million, per public records. JPMorgan Chase provided $32.2 million in acquisition financing to the buyer. The seller had purchased the five-building office park in June 2017 for $34.8 million from TPA Group, according to Yardi Matrix.<\/p>\n

Located 10 miles south of the city center at 5209 to 5217 Linbar Drive, the asset is in a suburban setting alongside Interstate 24. Haywood Oaks Park is on 26.7 acres, but also includes 4.2 acres of vacant land on two neighboring parcels. Most of the metro\u2019s office investment has been concentrated in more central areas: In the 12 months prior to Elmington\u2019s acquisition, only $42.4 million of the market\u2019s $1.1 billion in transactions were in the Far South Nashville submarket. In March, Gramercy Property Trust traded a fully leased Class B building<\/a> 4 miles south of Haywood Oaks for $17 million.<\/p>\n

Constructed in 1988 and 1989, the property has a mix of flex and medical office space in addition to roughly 24,000 square feet of retail. The buildings\u2019 tenants include Gaylor Electric, DaVita, Terracon and United Technologies. Yardi Matrix shows the property\u2019s vacancy was at 7.9 percent in October, higher than the submarket average of 5.9 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"

The buyer secured more than $32 million in financing from JPMorgan Chase for the acquisition of the 325,000-square-foot campus.<\/p>\n","protected":false},"author":861,"featured_media":1004366087,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,36077,21742,21747],"tags":[35194,47717,35274,36816],"class_list":["post-1004366081","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-nashville-knoxville","category-latest","category-office","tag-albany-road-real-estate-partners","tag-elmington-capital-group","tag-jpmorgan-chase","tag-tpa-group"],"acf":[],"yoast_head":"\nElmington Capital Buys Nashville Office Park for $46M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/elmington-capital-buys-nashville-office-park-for-46m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elmington Capital Buys Nashville Office Park for $46M\" \/>\n<meta property=\"og:description\" content=\"The buyer secured more than $32 million in financing from JPMorgan Chase for the acquisition of the 325,000-square-foot campus.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/elmington-capital-buys-nashville-office-park-for-46m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-06T11:32:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/Haywood-Oaks-Park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/elmington-capital-buys-nashville-office-park-for-46m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/elmington-capital-buys-nashville-office-park-for-46m\/\",\"name\":\"Elmington Capital Buys Nashville Office Park for $46M - 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