Dreamscape Cos Acquires Fifth Third Center Office In Nashville For $55.25 Million From Blackstone Real Estate
424 Church Street
$55,250,000
Building Size
—
Asset Type
Office
Closing
Aug 15, 2025
About this deal
AI
An office asset located at 424 Church Street in Nashville, TN, was sold for $55,250,000. The transaction represents a significant decrease of 62% from its previous sale price in 2019, reflecting the current market conditions for downtown office spaces.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $55,250,000
- Buyer: Dreamscape Cos
- Seller: Blackstone Real Estate
- Sale Date: 08/15/2025
This transaction involved a New York investor associated with Dreamscape Cos. acquiring the Fifth Third Center, indicating their strategic interest in the Nashville market amid rising office space challenges.
On the Map
$55,250,000
Office
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Players
Nashville Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93