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Elmington Capital has purchased an office building in Franklin, TN with a $29-million acquisition loan from Knighthead Funding, LLC.

Elmington Capital Acquires Class A Office in Franklin with $29M Loan

Knighthead Funding, LLC, has provided Nashville, TN-based Elmington Capital with $29 million in first mortgage debt for the acquisition of a two-story Class A office building in the Nashville submarket of Franklin, TN.

Built in 2008 for Verizon, the 180,000-square-foot asset sits on an 18.7-acre parcel at 455 Duke Drive in Franklin and features a new suite of amenities including fitness and conference centers and substantial parking. A portion of the loan proceeds from the four-year financing will be used to pay for tenant improvements and other costs associated with stabilizing the property, which is currently partially occupied by Lowes Hotels.

The property is situated in the Cool Springs area of the Nashville MSA, which is home to 13 of the 25 largest publicly traded companies in the Nashville area and the location of the corporate headquarters of Lee Company, Mars Petcare, Jackson National Life Insurance, Tractor Supply Co. and many other large companies.

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Knighthead Funding, LLC

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
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