Realm, an investment firm, recently acquired the Parkway Towers and Court Square Building in downtown for $15 million. The previous owner, Wheelock Street Capital, sold the buildings at a combined loss of approximately $26 million. In October 2019, Wheelock purchased the 21-story Parkway Towers for $33.5 million and then bought the neighboring Court Square Building in June 2022 for $8.25 million.
According to reports from Nashville Business Journal, Realm plans to convert the 218,000-square-foot Parkway Towers into either apartments or a hotel. These two office buildings are located on a prime site of 1.28 acres near Tennessee State Capitol.
In another recent transaction by Wheelock Street Capital in Nashville’s real estate market was selling Philips Plaza tower at a significant loss of $94 million to local investors Byran Fort and Taylor Preston just last week. Additionally this month,a Maryland Farms office building was also sold at foreclosure auction with an estimated loss of about$18
