Foundry Commercial has been retained as the Exclusive Agent representing the sale of a 79.3% controlling ownership stake in Capitol Towers in Nashville, TN (the “Property”). The Property offers a distinctive acquisition opportunity for an investor or developer, and encompasses 172 residential units, 6 commercial units, and an integrated parking structure.
Capitol Towers, initially built in 1959, transitioned to condominiums in 1992 and 47 units were sold to the public. The original condominium developer’s 79.3% controlling ownership position is now available for purchase.
The Property offers a chance to acquire an irreplaceable urban location between downtown Nashville and the exciting Germantown, Ballpark, and Bicentennial Mall districts of the city. This offering is an ideal value-add opportunity for selling renovated condo units at a compelling market price point, repositioning of the building as a rental property, or possible redevelopment of the 1.83 AC site if the purchaser were to gain control of the entirety of the building’s condominium units.
For more information on the Property and to access the Virtual Deal Room and Offering Memorandum, please visit nashvillecapitoltowers.com.