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JamesAlan1986
Local real estate investor Charles Jones acquired the five-building, closed Nashville Memorial Hospital campus, which is on 53 acres in Madison.
He plans to redevelop the property into about 560k SF of mixed-use space, perhaps a mix of residential, office, hotel and retail uses that will go under the new name Due West Towers.
The deal was a $6M reverse 1031 exchange, with Charles swapping the former Macy's anchor property at the former Hickory Hollow Mall (aka Global Mall at the Crossings) in Antioch, reports the Tennessean. The Macy's property is under contract to Crestview Funds of Brentwood, which also holds the former Sears site at Hickory Hollow. [Tennessean]
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