Dilweg Sells Vantage Place in Nashville

DURHAM, N.C. (March 4, 2019) – Commercial real estate investment firm, The Dilweg Companies, announced today the sale of Vantage Place in Nashville, Tennessee to an affiliate Innovatus Capital Partners, LLC (“Innovatus”), an independent investment adviser and portfolio management firm with approximately $1.7 billion in assets under management.

Vantage Place is a five-story office building located Nashville’s MetroCenter submarket. The building totals 171,523 square feet and was built in 1981. Major tenants include AO Smith, Centerstone Research Institute, CGS and Young Williams. The building was 99 percent leased at the time of sale.

“The Nashville office investment market has been very strong lately, and we felt this was a good time to exit this stabilized asset,” said Anthony Dilweg, CEO of the Dilweg Companies. “We were able to add value to this building and realize significant returns for our investors, which represents a notable win for our first Nashville project.”

The Dilweg Companies acquired Vantage Place in April 2017 for $17.7M.

“We are pleased to expand our Nashville footprint with our second transaction in Nashville after purchasing Highland Ridge in January 2019.  Vantage Place complements our existing portfolio of U.S. commercial office properties in emergent growth U.S. markets,” said Bradley Seiden, Managing Director, Innovatus Capital Partners. “Nashville has experienced tremendous growth over the past few years as high-profile companies continue to select Nashville for expansion. This transaction epitomizes Innovatus’ strategic focus of acquiring market leading office properties in top-tier suburban markets. We look forward to working closely with our tenants and becoming part of the growing and thriving Nashville community.”

“Nashville is one of our target markets, and we look forward to our next opportunity in the Nashville metro area,” said Zach Ashton, Managing Director of Acquisitions for the Dilweg Companies.

CBRE’s Jay O’Meara and Ryan Reethof represented the Seller in the transaction.

About The Dilweg Companies

The Dilweg Companies is a full-service commercial real estate investment firm based in Durham, North Carolina. Since its launch in 1999, Dilweg has gained broad experience in the acquisition, development and operation of office, retail, warehouse/flex, multifamily and self-storage properties. Dilweg’s investors have sponsored over $1.74 billion in assets and more than 11.6 million square feet throughout North Carolina, Georgia, Florida and Tennessee. For more information, please call (919) 402-9100 or go to www.dilweg.com.

About Innovatus Capital Partners, LLC

Innovatus adheres to an investment strategy that identifies distressed, disruptive and growth opportunities in the less obvious market segments across multiple asset categories with a unifying theme of capital preservation, income generation, and upside optionality. Innovatus has a dedicated team of real estate investment professionals with deep experience in commercial real estate acquisitions, recapitalizations and asset management across core-plus and opportunistic real estate investments amongst all property types including office, retail, hotel, medical, industrial and warehouse. Innovatus and its principals have significant real estate experience with ventures that range from the creation of a CMBS lending group and servicing platform to making equity investments in developments and single asset purchases. Further information can be found at innovatuscp.com.