Rosemont Realty Picks Up Lakeview Place

A joint venture of Nashville-based Smith/Hallemann Partners and Harbert USREF IV, an affiliate of Birmingham, Alabama-based Harbert Management Corporation, has sold the Lakeview Place office complex in Nashville, Tennessee to Santa Fe-based Rosemont Realty. According to a Nashville Business Journal article, Rosemont paid $42.25 million for the office park near Nashville International Airport in a deal brokered by Crews Johnston, Perry Gooch and Drew Flood, all with Cassidy Turley. The acquisition of Lakeview Place has added 380,963 square feet of Class A office space to Rosemont Realty's portfolio, which the company said consists of approximately 16 million square feet of commercial office space valued at over $1.5 billion.

"Nashville is a major business hub in the Southeastern U.S. benefiting from a strong historical connection to health care technology companies," said Daniel Burrell, CEO of Rosemont Realty. "We have confidence that the Airport market will continue to outperform most of its suburban peers and become a good addition to our growing portfolio."

Lakeview Place is a three-building office campus located at 25 Century Boulevard. The six-story office buildings were developed by Duke Realty between 1986 and 1998. Lakeview Place was 95% leased at the time of sale with major tenants including Amerigroup Tennessee, Mitsui & Co., Continental Casualty, Cummings Resources, Paychex and V. Alexander & Co. Cassidy Turley will continue to provide asset management, property management and leasing services for the property after the ownership transition.

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