Date of Acquisition
November 2014

Scope of Transaction
$5.9 million

Size of Property
9,480 SQF

Funding
50%

Equity
$3.4 million

Investment by Brightman-Gil
$0.6 million / 17% of the equity
312 BROADWAY (SOLD)
Nashville, TN

312 Broadway is a three-story building located in downtown Nashville. Broadway Street is a tourist and entertainment center for both domestic and foreign visitors.

After we purchased the property, we signed a new NNN lease with a bar-restaurant, with all expenses on the tenant.

Following an extensive gut-renovation of the property, implementation of air rights on the roof, and transformation of the property into a live show venue, we sold the property for $10 million for a return of 32% IRR.

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Transaction Details

11/2014
Acquisition

$5.9M
Scope

9,480
SQF

50%
Funding

$3.4M
Equity

$0.6M
B&G Invested