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Realm to Repurpose Distressed Nashville Property
Investment firm Realm recently paid $15 million for downtown’s Parkway Towers and Court Square Building.
Wheelock Street Capital sold the two buildings at a combined loss of approximately $26 million. Wheelock paid $33.5 million for the 21-story Parkway Towers in October 2019 and $8.25 million for the neighboring Court Square Building in June 2022.
The Nashville Business Journal reports the firm is planning to convert the 218,000-square-foot Parkway Towers building into apartments or a hotel.
The two office buildings, 404 and 300 James Robertson Parkway are on a 1.28-acre site near the Tennessee State Capitol.
A week before, Wheelock sold downtown’s Philips Plaza tower to local investors Byran Fort and Taylor Preston at a $94 million loss. This month, a Maryland Farms office building was sold at a foreclosure auction at a $18.5 million loss.
- ◦Sale/Acquisition
