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Vantage Place is a 167,818 sf office property located at 44 Vantage Way in the MetroCenter submarket of Nashville, TN. On April 10, 2017, TDC closed on the property at the contracted price of $17.70 million. The Company is currently seeking cash equity of approximately $1.85 million to recapitalize a portion of the original $5.1 million of equity contributed at closing.
As part of its strategy to enhance the property’s value, TDC will initially focus on addressing select mechanical and cosmetic improvements which were not completed during the property’s most recent renovation. TDC will also look to renew and extend the upcoming tenant lease expirations while bringing those leases up to the market rate.
Available to Accredited Investors:
Nashville’s 37M SF office market has continued its multi-year run as the tightest and one of the most in demand office markets in the country. It added 40,000 jobs in the previous four quarters and has a positive employment forecast for the next 12 months. Its unemployment rate in the fourth quarter of 3.8% is well below the national level of 4.9%. Nashville’s office market continues to boast one of the tightest overall vacancy in the nation at 5% and a million square feet of net absorption in 2016.
There is approximately 4M SF of space under construction in Nashville, of which nearly 75% is pre-leased. Tenants from within the metro comprise most of the pre-leased space, creating a potential ripple effect of vacancy. However, the larger blocks of vacancy coming to market have already received significant interest from potential tenants, reflecting the extraordinary demand dynamics in Nashville.
Available to Accredited Investors:
Below are some of the most frequently asked questions about this offering.
The first projected distribution is scheduled for June 2017.
Distributions are scheduled to go out on a quarterly basis.
No, this offering is only available to US residents.
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RealCrowd is excited to announce a new classification system for sponsors that utilize our platform. Historically we have included all qualified sponsors in one class based on meeting our minimum thresholds of experience, both in time as a principal in the real estate business as well as portfolio and transaction value.
The new classification system of sponsor qualifications aims to further increase the amount of opportunities investors will have access to and provide more information as to the qualifications of the sponsorship.
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