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CapRidge Partners buys Nashville, Tenn., office tower for $105.3M

Austin, Texas-based real estate investor CapRidge Partners LLC acquired the Nashville City Center building at 511 Union St. in Tennessee for $105.3 million, the Nashville Business Journal reported, citing public records.

The 27-story tower is one of the largest office buildings in downtown Nashville, with 477,000 square feet of space, according to the publication.

CapRidge tapped Foundry Commercial to market and broker leases for the tower, which counts Warner Music Group, First Tennessee Bank and Waller Lansden Dortch & Davis LLP among its tenants.

Alliance Partners HSP LLC, which is affiliated with Honolulu-based The Shidler Group Inc., was the seller.

The buyer used an $80 million loan from CIT Group Inc. to fund the transaction. The financing was arranged by Holliday Fenoglio Fowler LP, according to the Journal.