PNH Properties Acquires Nashville Office Building For $75M
211 Commerce Street
$75,000,000
$321/SF
Building Size
233,107 SF
Asset Type
Office
Closing
Dec 1, 2023
About this deal
AI
PNH Properties has acquired 211 Commerce, the former Baker Donelson Center in downtown Nashville, Tennessee. The property, located at 211 Commerce Street, was sold for a total of $75 million. The transaction resulted in a price per square foot of $321.45, with a total area of 233,107 square feet. This acquisition represents a significant investment for PNH Properties in the office market of Nashville, TN.
Summary of transaction details:
- Property Type: Office
- Sale Price: $75,000,000
- Square Footage: 233,107
- Price Per Square Foot: $321.45
- Address: 211 Commerce Street, Nashville, TN
- Market: Nashville, TN
Velocis Lincoln Commerce SPE LLC acted as the seller in this transaction. PNH Properties, represented by their broker, successfully completed the acquisition of 211 Commerce. This deal highlights the continued growth and investment opportunities in the Nashville office market.
On the Map
$75,000,000
$321/SF
Office
View full map
Players
Nashville Office Market Snapshot
Boundary boundary · Office · Sale transactions
Loading comparables…
Deal FAQ
Browse Nashville office sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93