{"id":1004379266,"date":"2020-01-03T02:09:59","date_gmt":"2020-01-03T10:09:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004379266"},"modified":"2020-01-03T08:08:43","modified_gmt":"2020-01-03T16:08:43","slug":"blackstone-takes-89m-financing-for-record-nashville-buy","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/blackstone-takes-89m-financing-for-record-nashville-buy\/","title":{"rendered":"Blackstone Takes $89M Financing for Big Nashville Buy"},"content":{"rendered":"<div id=\"attachment_1004379278\" style=\"width: 250px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Fifth-Third-Center.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004379278\" data-attachment-id=\"1004379278\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/blackstone-takes-89m-financing-for-record-nashville-buy\/fifth-third-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Fifth-Third-Center.jpg\" data-orig-size=\"640,800\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Fifth Third Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Fifth Third Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Fifth-Third-Center.jpg?w=640\" class=\"wp-image-1004379278 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Fifth-Third-Center.jpg\" alt=\"\" width=\"240\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Fifth-Third-Center.jpg 640w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/01\/Fifth-Third-Center.jpg?resize=240,300 240w\" sizes=\"auto, (max-width: 240px) 100vw, 240px\" \/><\/a><p id=\"caption-attachment-1004379278\" class=\"wp-caption-text\">Fifth Third Center<\/p><\/div>\n<p>Nuveen Real Estate has provided an $89.4 million loan to The Blackstone Group to finance its December acquisition of Fifth Third Center, a 490,281-square-foot office high-rise in downtown Nashville, Tenn., according to public records. The $144.8 million deal closed less than two years after seller Goldman Sachs Asset Management paid $117.6 million to Lincoln Property Co. for the tower, per data from Yardi Matrix.<\/p>\n<p>Located at 424 Church St., the property is three blocks from the UBS Tower, which <a href=\"https:\/\/www.commercialsearch.com\/news\/shorenstein-properties-pays-135m-for-nashville-high-rise\/\">changed hands for $135 million<\/a> in March. Fifth Third Center is in the heart of the central business district, within half a mile of the State Capitol, the Music City Center and a wide range of hotels. Constructed in 1986, the 31-story Fifth Third Center is home to a diverse mix of tenants, from building namesake Fifth Third Bank to Regus and CoStar Group. The property has approximately 4,000 square feet of street-level retail space, a fitness center, an outdoor plaza and recently renovated common areas.<\/p>\n<p>Blackstone\u2019s acquisition is the metro\u2019s largest since late 2013, when Highwoods Properties acquired The Pinnacle at Symphony Place for $152.8 million from Canyon Partners Real Estate. Nashville continues to attract significant investment\u20142019 marked two consecutive years this cycle exceeding $850 million in office transactions, according to Yardi Matrix.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm bought the 490,000-square-foot property in the largest Music City office deal of the past six years.<\/p>\n","protected":false},"author":861,"featured_media":1004379275,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,36077,21742,21747],"tags":[33435,32838,43901,33129],"class_list":["post-1004379266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-nashville-knoxville","category-latest","category-office","tag-goldman-sachs","tag-lincoln-property-company","tag-nuveen-real-estate","tag-the-blackstone-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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