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Northwood Investors Acquires Entirety of Fifth + Broadway in Nashville
Northwood Investors, LLC, has acquired Fifth + Broadway, a 6.2-acre mixed-use, open-air center in Nashville, TN.
Northwood has purchased the property in its entirety (retail district, 501 Commerce office tower and The Place residences) from a subsidiary of Brookfield, which completed development in 2021. Financing was provided by Pacific Life.
Fifth + Broadway, which replaced the 6.2-acre Nashville Convention Center site, delivers 250,000 square feet of retail and entertainment, the 56,000-square-foot National Museum for African American Music, 367,000 square feet of Class-A office space at 501 Commerce, and 381 residential units at The Place at Fifth + Broadway. The project sees nearly five million annual visitors.
“We feel Nashville is a high-growth market, and one that we have been watching since 2011,” said Ward Kampf, president of Northwood Retail.
The acquisition marks Northwood’s fifth Nashville asset behind The Conrad hotel, Capital View apartments, the McEwen Northside mixed-use center and Franklin Park office towers.
- ◦Sale/Acquisition
