Northwestern Mutual Purchases Office Space in Brentwood
Northwestern Mutual has purchased two four-story adjacent office buildings, Park Center I and II, in the Brentwood submarket of Nashville for $44.6 million. The properties are located at 5200 and 5250 Virginia Way. Cushman & Wakefield brokered the transaction. Terms were not disclosed.
“Northwestern Mutual has a long history of successful real estate investments in Nashville. We are excited to add these two high quality, well located office buildings to our portfolio. We like the fundamentals of Nashville overall and of this submarket in particular,” said Alexandra Mastro, a director for Northwestern Mutual Real Estate.
The company has approximately $600 million invested in both debt and equity real estate deals in the area. Among the properties Northwestern Mutual owns are the Meridian Cool Springs Office Park in Franklin, Tapestry at Brentwood Town Center and Gateway II in Brentwood. Northwestern Mutual is also working on a major mixed-use project downtown, Capitol View, which will include office, retail and residential space. Boyle Investment Company, Northwestern Mutual’s longtime partner in Nashville, will manage the properties.
Northwestern Mutual Real Estate is the real estate investment arm of Northwestern Mutual and one of the largest real estate investors in the nation, with investments in commercial mortgage loans and equities across all major property types.
An essential ingredient in maintaining Northwestern Mutual's financial strength and ability to deliver value to its policyowners is the performance of the company's $195 billion general account investment portfolio, assets that back the company's insurance and annuity products.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With $230 billion in assets, $27 billion in revenues, nearly $90 billion in assets under management in our investment products and services, and more than $1.5 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to 4.3 million people who rely on us for insurance and investment solutions, including life, disability income and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services. Northwestern Mutual is recognized by FORTUNE magazine as one of the “World’s Most Admired” life insurance companies in 2015.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, life insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Real Estate Investments, LLC; Northwestern Mutual Investment Services, LLC, broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company, limited purpose federal savings bank; and Northwestern Long Term Care Insurance Company.
John Gardner, 1-800-323-7033, firstname.lastname@example.org
12/4/2015 4:10:00 PM