Philips Plaza – Recapitalization
Realized Philips Plaza is a 435,525 square-foot, 21-story, class-A office tower located in downtown Nashville, TN. The investment represented a recapitalization of the LCP's original investment in Bank of America Plaza, whereby a new joint-venture partnership was established.
Investment Info
- Status: Realized
- Market: Nashville, TN
- Property Type:
Office - Square Footage: 435,525
- Lingerfelt Role: General Partner
- Strategy: Acquisition
- Sub-Strategy: Reposition, Lease-Up
Investment Metrics
- Entry Date: May 19, 2016
- Purchase Price: $74,000,000
- Total Capitalization: $76,319,000
- Exit Date: February 20, 2019
- Exit Price: $111,500,000
- Hold Period: 2.7 Years
