Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Partnership Spends $110M for Mixed-Use Development Site in Midtown Nashville
Monarch Alternative Capital LP, in partnership with GBT Realty Corporation, has spent $110 million to secure a development site comprised of eight acres in the central business district of Nashville, TN.
The eight-acre development site, located in the Midtown submarket, is currently zoned for 1.75 million square feet of mixed-use real estate. It is directly west of interstates 40 and 65 for accessibility to key destinations such as the Gulch, Music Row, Vanderbilt University and downtown Nashville.
Monarch and GBT believe the opportunity to invest in the development site will support the city’s focus on smart expansion through infill of underutilized property within the urban core. The Mixed-Use Intensive Alternative-zoned site allows for residential, retail, hospitality and office.
Monarch Alternative Capital LP is a global investment firm with approximately $9.5 billion in assets under management. Brentwood, TN-based GBT has been involved with the development, construction, leasing and management of more than $8 billion of real estate.
- ◦Sale/Acquisition
- ◦Development
