Elmington Capital Group Buys Big In Nashville
Locally based Elmington Capital Group inked a number of deals recently for Nashville properties, shelling out more than $43M. Elmington paid nearly $22M for a portfolio of five office buildings, formerly owned by the late businessman Ted Welch, along Music Row and 21st Avenue. The buildings include about 115k SF, and the company plans to invest about $1.6M on renovations, primarily to the building at 2416 21st Ave S, reports the Nashville Business Journal.
Separately, the investor paid $20M for The Park at Hillside, a 290-unit, low-income tax credit apartment property on Hillside Avenue. Elmington followed that deal with the acquisition of a church property (pictured) at 929 Edgehill, which was sold by the Pleasant Valley Primitive Baptist Church for about $1.5M. [NBJ]