SDG Adds Building in Nashville
Nashville, TN, October 31, 2008 - SDG Value Fund I has acquired a controlling interest in the 50,000 square foot Point Place II office building in Nashville, Tennessee. This is the second Nashville acquisition of the Fund, which purchased the 95,000 square foot Metro Exchange office building in 2007.
Constructed in 1985, Point Place II is a two-story brick and glass building located on Donelson Pike just north of I-40 and the Nashville International Airport. SDG purchased their interest in the building, which is currently 16% leased, intending to reposition and re-tenant the building. The building has an above average parking ratio which is available to accommodate back-office and call center users.
SDG has appointed Nashville Commercial Real Estate to lease and manage the building. Melanie Giaconia has been named the property manager while James Trone and Dick Fleming are the leasing agents.
Kim Nelson of Interstate Partners Real Estate in Nashville represented SDG in this transaction. Financing was provided by American Security Bank & Trust in Hendersonville, Tennessee.
SDG Value Fund I, LP is sponsored by SDG Advisors, LLC, a partnership of Atlanta real estate veterans Stan Breon and Mark Parker. SDG Value Fund I provides opportunities for high net worth individuals, family trusts, and other accredited investors to participate in an institutional-style real estate fund which focuses on real estate with significant capital appreciation potential. Since it’s inception in August 2007, the Fund has invested in assets with a total market value exceeding $15 million.
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