NASHVILLE, TENN. — DPG Investments LLC has provided advisory services to the buyer group in the $125 million sale of a downtown Nashville property. LifeWay Christian Ministries had occupied the nearly 15-acre property for decades, but the company plans to relocate, which left the downtown campus open for alternative uses.
Southwest Value Partners, a real estate investment firm based in San Diego, was the buyer, according to the Nashville Business Journal. The company was co-founded in 1990 by Robert Sarver, who remains a partner and is also majority owner of the Phoenix Suns, according to the newspaper.
The nine-building campus includes 1 million square feet of office, warehouse and parking space. LifeWay is the publishing arm of the Southern Baptist Convention. The property could be redeveloped into a mix of hotel, entertainment, commercial, office and residential uses, according to The Tennessean.
“Nashville is one of the most dynamic markets in the southeast, experiencing significant real estate development,” says Joe Joseph, managing director of real estate finance at DPG.
DPG Investments and its affiliates provide investment management and advisory services. The company was founded in 2004 and has offices in Arizona, California, Connecticut and Georgia.
DPG’s private investor base is comprised of private family offices, offshore affiliates, private equity firms, public capital corporations, hedge funds, insurance companies, endowments, pension plans and various operating partners.
— Haisten Willis